Business Services Industry
MOODY'S REPORTS
Info-Prod Research (Middle East), September, 2003
Sydney, September 18, 2003 -- In its annual report on Western Australia, Moody's Investors Service says the Australian state's Aaa long-term debt rating reflects its modest debt burden, robust economy, and a financial position that remains sound. The rating outlook is stable. "Western Australia's financial position remains strong despite several consecutive years of budget deficits (net borrowing result), and the state government is on track to meet its fiscal targets.
A narrowing ofthe state's budget gap over the past two years reflects the impact of taxmeasures as well as favorable economic trends on revenues, along with ameasure of expenditure restraint," says Moody's. Despite some fiscal pressures, Western Australia's debt ratios remain low by Australian and...
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