S&P places Australian state of Victoria on negative ratings watch

Author: Justin Low | Category: News

S&P places Victoria state's AAA rating on negative watch

The ratings agency says that there is an increasing possibility that it will lower the long-term rating on Victoria within the next few months if the lockdown situation deteriorates, saying that the lockdown has severely hit economic activity and state finances hard.

On the decision to place the state on negative watch, they say that they will aim to resolve their decision in the next few months as more details become available about the fiscal effect of the latest lockdown measures.

Just be mindful as this could eventually feed into some impact on Australia's overall credit rating, with Victoria being its second-most populous state after NSW.
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