Ratings agency Moody’s has today reaffirmed the state’s triple-A credit rating in a strong endorsement of the NSW Liberals & Nationals Government’s economic management.
Treasurer Andrew Constance welcomed the announcement ahead of the State Budget, and said it’s further proof the NSW Government is delivering a strong and stable fiscal strategy.
“When we were elected in 2011, we faced the real prospect of losing the triple-A had we not cleaned up Labor’s mess,” Mr Constance said.
“We made the difficult but right decisions at the time, and the ratings agencies are taking note.
“Moody’s today reaffirmed the NSW triple-A rating and maintained our stable outlook, noting our diverse economic base and considerable budget flexibility.
“Moody’s also acknowledged the strength of NSW’s rating compared to most of the other states and territories.
“While this is a pleasing report card ahead of the State Budget, we are conscious that ratings agency S&P still have NSW on negative outlook.
“The Budget will continue the responsible financial management of the past three years and deliver the economic and social outcomes people are right to expect.”