Australian States Remain in Good Financial Health Jan 00
- ID: 2092030
- January 2000
- Region: Australia
- Standard & Poors
The Australian states and the Australian Capital Territory (ACT) generally remain in a good financial position despite some shift in emphasis in recent years from fiscal consolidation to service delivery and infrastructure provision. Debt levels are low by international standards and most jurisdictions recorded either underlying cash surpluses in fiscal 1999 or very small deficits. Their budgets brought down in 1999 indicate that similar results are expected in fiscal 2000. In 1999, the rating on South Australia (SA) was raised to 'AA+' from 'AA', reflecting the significant prospective reduction in debt from the lease of the electricity distribution and retailing businesses. The ratings on all the other states and the ACT were affirmed. Four states- New South Wales (NSW), Victoria,...
Companies mentioned in this report are: Victoria,Australia (Commonwealth of) (Unsolicited Ratings),New South Wales (State of),Queensland (State of),South Australia (State of),Western Australia (State of),Tasmania (State of),Australian Capital Territory (Government of),Alinta 2000 Ltd.,City of Sydney
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Research Type: Commentary
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Victoria,Australia (Commonwealth of) (Unsolicited Ratings),New South Wales (State of),Queensland (State of),South Australia (State of),Western Australia (State of),Tasmania (State of),Australian Capital Territory (Government of),Alinta 2000 Ltd.,City of Sydney