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 24 August 2017, Standard & Poor’s reaffirmed the State of Victoria’s triple-A credit rating, citing ‘the state’s very strong financial management and economy, exceptional liquidity and the extremely predictable and supportive institutional framework’.

Standard and Poor's report - August 2017 (PDF 373kb)

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 28 August 2017, Moody’s reaffirmed the State of Victoria's triple-A rating with a stable outlook, citing ‘Victoria’s credit quality reflects ample financial flexibility, healthy operating surpluses and a diverse economic base'.

Moody's report - August 2017 (PDF 1.24mb)

Moody's report - February 2017 (PDF 1.42mb)

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