The State of Victoria is rated by two international rating agencies - Standard & Poor's and Moody's Investors Service Limited. Both rating agencies conduct an annual review of the State's economic structure and prospects; financial performance and outlook; balance sheet position; liquidity and debt management strategy; and the government's fiscal strategy.
Moody's Investor Services
On 15 April 2008, Moody's Investor Services re-affirmed Victoria's AAA credit rating. Moody’s credit opinion (see below) on the state of Victoria’s finances found a low debt burden, strong financial performance and prudent fiscal management underpinned the State’s AAA rating.
Credit Opinion - April 2008 (103 kb PDF)
Credit Opinion - January 2007 (49 kb PDF)
Rating Action - May 2005 (40 kb PDF)
Credit Opinion - December 2005 Update (49 kb PDF)
Analysis Report - December 2004 (460 kb PDF)
Standard and Poor's
On 8 December 2008, Standard and Poor's affirmed Victoria's domestic currency debt and foreign currency debt ratings of "AAA/A-1+" in its Ratings Direct report. The rating outlook remains stable. On 6 May 2008, Standard and Poor's confirmed that the 2008-09 State Budget was consistent with the State's AAA/A-1+ rating.
RatingsDirect - December 2008 (512 kb PDF)
Bulletin - May 2008 (338 kb PDF)
Research Update - September 2007 (429 kb PDF)
Bulletin - December 2006 (362 kb PDF)
Comparative Study of Victoria and its peers - March 2006 (1.8 mb PDF)
Media Release: Victoria - December 2005 (40 kb PDF)
Annual Research Report: Victoria - July 2005 (94 kb PDF)
For further information or queries, please contact:
Economic and Financial Policy Division
Tel: +(61-3) 9651 5305
