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Western Australian Treasury Corp. Mar 11

  • ID: 2177337
  • March 2011
  • Region: Australia
  • Standard & Poors
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Intrinsically linked with its owner, the state of Western Australia Strong institutional framework Prudent fiscal management High levels of GSP per capita Like with all Australian states, the institutional framework to which Western Australia is subject has a degree of structural imbalance between revenue powers and expenditure responsibilities In accordance with our criteria for government-related entities (GREs), our view of an "almost certain" likelihood of extraordinary support is based on the state's guarantee of all of WATC's financial liabilities, including all of its debt obligations and our assessment of WATC's: "Critical" operational role in managing the state's and its authorities' debt, a significant proportion of the state's financial assets, and providing corporate financial advice; and "Integral" link with the Western...

Companies mentioned in this report are: Western Australian Treasury Corp.
Action: Review

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: Full Analysis

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Western Australian Treasury Corp.

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