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Bulletin: Ratings On Australia's State Of Victoria Unchanged After State Budget Announcement
Standard & Poors, May 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
MELBOURNE (Standard & Poor's) May 3, 2011- Standard & Poor's Rating Services said today that its 'AAA/Stable/A-1+' ratings on the State of Victoria are not immediately affected by the Victorian government's announcement of its 2011-2012 budget. Standard & Poor's considers that the budget is in line with the current ratings on Victoria. While budgetary performance is somewhat weaker than forecast at the time of the Dec. 21, 2010, mid-year budget update, due primarily to lower GST transfers from the Commonwealth of Australia (AAA/Stable/A-1+), Standard & Poor's expects savings measures to partly mitigate the impact of these lower revenues. As a result, Standard & Poor's expects the general government to record accrual operating surpluses while the non-financial public sector will record...
Companies mentioned in this report are: Victoria (State of)
Action: Bulletin
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