The State of Victoria is rated by two international rating agencies - Standard & Poor's (S&P) and Moody's Investors Service (Moody's). Both rating agencies conduct an annual review of the State's:
economic structure and prospects;
financial performance and outlook;
balance sheet position;
liquidity and debt management strategy; and
the Government's fiscal strategy.
Moody's Investor Services
On 15 February 2012, Moody's re-affirmed Victoria's Aaa credit rating. Moody’s credit opinion on the State of Victoria reflects a long-term historical record of sound financial performance, ample financial flexibility and a still moderate, albeit rising, debt burden.
On 1 May 2012, Moody's confirmed that the 2012-13 State Budget was consistent with the State's Aaa rating.
On 25 October 2012, Standard & Poor's (S&P) affirmed Victoria's domestic currency debt and foreign currency debt ratings of AAA/A-1+ in its Ratings Direct report. The rating outlook remains stable.
The report cited that the key strengths behind Victoria's rating include strong institutional framework, capable and conservative financial management and strong diversified economy.
On 1 May 2012, Standard and Poor's confirmed that the 2012-13 State Budget was consistent with the State's Aaa rating.
Natural Disaster Financial Assistance Councils need to provide financial assistance claims for all eligible costs associated with infrastructure repairs for the 2010-11 Victorian floods, as well as any other natural disaster events which occurred during 2010-11, by 30 June 2013.
Model Reports The 2012-13 Model Report is now available. This document assists Victorian government departments and other public sector entities with the planning and preparation of disclosures for the 2013 Annual Report.
