AUSTRALIA: MOODY'S REPORTS: WESTERN AUSTRALIA'S AAA RATING IS BASED ON MODEST DEBT BURDEN, ROBUST ECONOMY.(Brief Article)

IPR Strategic Business Information Database, 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 of the state's budget gap over the past two years reflects the impact of tax measures as well as favorable economic trends on revenues, along with a measure of expenditure restraint," says Moody's. Despite some fiscal pressures, Western Australia's debt ratios remain low by...

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