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Bulletin: Ratings On Australia?s State Of Tasmania Unaffected By Government?s 2012 Budget Jun 11
Standard & Poors, June 2011
Abstract
SYDNEY (Standard & Poor's) June 15, 2011--Standard & Poor's Ratings Services said today that its 'AA+/A-1+' credit ratings and stable outlook on the State of Tasmania are not immediately affected by the state's 2011-2012 budget, announced today. Standard & Poor's assessment of the strong institutional framework in the Commonwealth of Australia (AAA/Stable/A-1+), combined with the state's demonstrated fiscal discipline and strong financial management, continue to support the ratings on Tasmania. In common with all Australian states, Tasmania's fiscal flexibility is limited by the structural imbalance between revenue powers and expenditure responsibilities, which we consider a ratings constraint, along with its large unfunded superannuation liabilities. While budgetary performance in fiscal 2011 is expected to be better than previously forecast, the outturn...
Companies mentioned in this report are: Tasmania (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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