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Bulletin: Ratings On The State of Queensland Are Unaffected By Government?s 2012 Budget Jun 11
Standard & Poors, June 2011
Abstract
MELBOURNE (Standard & Poor's) June 14, 2011--Standard & Poor's Ratings Services said today that its 'AA+/A-1+' credit ratings and stable outlook on the State of Queensland are not immediately affected by the state's 2011-2012 budget, announced today. Standard & Poor's assessment of the Commonwealth of Australia's (AAA/Stable/A-1+) strong institutional framework, Queensland's robust and diversified economy, and excellent financial management continue to support the ratings on Queensland. Like for all Australian states, Queensland's moderate budgetary flexibility, which reflects a degree of structural imbalance between revenue powers and expenditure responsibilities, weakens the state's credit quality. Queensland's budgetary performance in fiscal years 2011 and 2012 is weaker than forecast at the time of the Jan. 28, 2011, mid-year budget update, reflecting better estimates...
Companies mentioned in this report are: Queensland (State of)
Action: Bulletin
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.
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