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Bulletin: South Australia ?AAA? Ratings Remain On Negative Outlook Following Today?s Mid-Year Budget Update Dec 11
Standard & Poors, Dec 2011
Abstract
MELBOURNE (Standard & Poor's) Dec. 16, 2011--Standard & Poor's Ratings Services said today that its 'AAA/A-1+' issuer credit ratings and negative outlook on the Australian State of South Australia were not immediately affected by South Australia's 2012 Mid-Year Budget Update, which was tabled in Parliament today. Like all Australian states, South Australia's GST forecasts have been lowered over the forward estimates. Over the coming weeks, Standard & Poor's will be assessing South Australia against its downside scenario, which sees either pressure on revenues or slippage in the delivery of the savings measures beyond 10%-15%. The negative outlook on South Australia partly reflects our concerns that the South Australian government will not achieve its ambitious savings measures and that its budgetary...
Companies mentioned in this report are: South Australia (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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