AUD traders - Moody's downgrades Australian states' outlook to 'negative'

Author: Eamonn Sheridan | Category: News

The local press here in Australia, Australian Financial Review with the  report:

  • Ratings agency Moody's has downgraded its outlook for state governments 
  • from "stable" to "negative"
  • citing lower tax collection, higher debt will dampen revenues and the ability to keep their economies growing
Moody's further notes 
  • public spending on infrastructure is "underpinning economic activity" 
  • and is "increasingly funded through rising debt burdens"
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