Moody's gives NSW the Triple-A tick of approval
The NSW Government and the NSW economy has received its latest vote of confidence with credit ratings agency Moody’s reaffirming the state’s triple-A credit rating.
NSW is the only state in Australia to have a triple-A credit rating with Moody’s. Fitch also assigned NSW a triple-A rating while S&P Global assigned NSW a double-A plus rating.
Treasurer Matt Kean said the result was further proof of the government’s strong financial management, particularly through a challenging period.
“It is always great to see recognition of our state’s strong fundamentals which have been maintained by the government’s proven fiscal resolve,” Mr Kean said.
“In reaffirming the highest possible credit rating, Moody’s highlighted NSW’s diverse and robust economy and financial strength and flexibility.
“Our state’s economic performance has shone through a dark period, and with record low unemployment we look forward to continuing the recovery and growing our economy.”
In the report, Moody’s said: “The stable outlook reflects our expectation that the state's large and diverse economy will remain resilient.”
Australian states’ credit ratings:
- New South Wales – Sept 2022 - Aaa
- Western Australia – April 2022 – Aa1
- Queensland – Aug 2022 – Aa1
- South Australia – Aug 2022 – Aa1
- Victoria– June 2022 – Aa2
- Tasmania – Aug 2022 – Aa2
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