Ratings On Australian State Of Victoria Affirmed At ?AAA/A-1+?; Outlook Stable Oct 12

Standard & Poors, October 2012

Abstract
MELBOURNE (Standard & Poor's) Oct. 25, 2012--Standard & Poor's Ratings Services said today that it has affirmed its 'AAA/A-1+' issuer credit ratings on the Australian State of Victoria, and the state's central borrowing authority, the Treasury Corp. of Victoria. The outlook is stable. The ratings on Victoria are supported by the strong institutional framework benefiting state governments in Australia, plus Victoria's very capable and conservative management, the state's resilient and diversified economy, and its robust operating position. These strengths are offset--as with all Australian states--by an institutional framework that features some structural imbalance between revenue powers and expenditure responsibilities. The stable outlook reflects our expectation that Victoria will continue to deliver on its budgeted cost savings and its fiscal strategy,...

Companies mentioned in this report are:
- Victoria (State of)
- Victoria (Treasury Corp. of)

Action: Affirmed
Action: Outlook: Stable

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.

- Victoria (State of)
- Victoria (Treasury Corp. of)

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