Business Services Industry
SOUTH AFRICA: MOODY'S ISSUES ANNUAL REPORT ON NEW SOUTH WALES.
IPR Strategic Business Information Database, January, 2008
In its annual report on New South Wales, Moody's Investors Service says the Australian state's Aaa ratings reflects a sound record of financial performance, a low debt burden and a sizeable and diverse economic base. "The debt burden is expected to rise over the medium term as New South Wales embarks on a large-scale capital improvement program, though the debt load should remain manageable," said Moody's Vice President Debra Roane, author of the report.
"In addition, the state's large capital program, which could be slowed if conditions warrant, enhances fiscal flexibility." Consolidated public-sector deficits are projected to average 10% of revenues, largely reflecting the significant rise in capital spending of public corporations for transport,...
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