Andrew Barr is celebrating the ACT Government’s defense of its credit rating with Standard & Poor’s.
International ratings agency Standard & Poor’s Ratings Services (S&P) has announced today the affirmation of the ACT’s ‘AAA’ long-term and ‘A-1+’ short-term local current credit ratings.
The confirmation of the highest possible credit rating for the Territory is a welcome acknowledgement of the ACT Labor Government’s prudent financial management and strong budgetary performance over the past several years.
Standard & Poor’s has indicated that the success of the Territory’s efficiency and savings program is a very positive factor in determining the jurisdictions credit rating and considerable weight has also been given to the response of the ACT Labor Government in the face of declining revenue bases and appropriate liquidity management.
[Photo by Andres Rueda CC BY]