Victoria's credit rating

Overview

The State of Victoria is rated by two international rating agencies - Standard & Poor's (S&P) and Moody's Investors Service (Moody's).


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.

Standard & Poor's

On 26 August 2016, Standard & Poor's (S&P) re-affirmed Victoria's triple-A credit rating.

In its report to market, S&P said "The State of Victoria's credit profile reflects are view of the extremely predictable and supportive institutional framework benefiting state governments in Australia, plus the state's very strong financial management and economy, and its exceptional liquidity. The ratings also reflect Victoria's strong budgetary performance and very low contingent liabilities. Victoria's very strong economy is benefiting from the broader national economy's transition toward the service sector along the east coast, from mining activity in the west coast."

Standard and Poor's report - August 2016 (PDF 350kb)

Standard and Poor's report - August 2015 (PDF 289kb)

Standard and Poor's report - May 2015 (PDF 283kb)

Standard and Poor's report - September 2014 (PDF 291kb)

Standard and Poor's report - May 2014 (PDF 302kb)

Standard and Poor's report - November 2013 (PDF 283kb)

Standard and Poor's report - November 2013 (DOCX 59kb)

Standard and Poor's media release - 2013 (PDF 69kb)

Standard and Poor's media release - 2013 (DOCX 42kb)

Standard and Poor's Budget media release - 2013-14 (PDF 265kb)

Standard and Poor's Budget media release - 2013-14 (DOCX 34kb)

Standard and Poor's report - October 2012 (PDF 348kb)

Standard and Poor's report - October 2012 (DOCX 95kb)

Standard and Poor's - Ratings Direct - November 2011 (PDF 573kb)

Standard and Poor's - Ratings Direct - November 2011 (DOCX 119kb)


Moody's Investor Services

On 22 February 2016, Moody's re-affirmed Victoria's triple-A credit rating. Moody’s credit opinion on the State of Victoria reflects a long-term historical record of sound financial performance, ample financial flexibility and a diverse economic base that supports its operations.

Moody's report - February 2016 (PDF 137kb)

Moody's report - February 2015 (PDF 137kb)

Moody's report - May 2014 (PDF 110kb)

Moody's report - December 2013 (PDF 933kb)

Moody's report - December 2013 (DOCX 527kb)


For further information or queries contact:
Financial Assets and Liabilities
Tel: 03 9651 5305