NSW gets first state credit upgrade in three years
S&P Global upgraded NSW's economic outlook to stable. It pointed to excellent financial management and a diverse economy.
NSW became the first Australian state in three years to improve its credit outlook with S&P Global. The rating agency kept the state's AA+ credit rating and changed the outlook from negative to stable.
NSW Treasurer Daniel Mookhey said the upgrade reflects the government's strong financial management and the state's diverse economy. NSW's balance sheet gives it room to support families during the cost-of-living crisis while building growth.
More work is needed to strengthen the economy further.
- AA+
- Credit rating
- Negative to stable
- Outlook change
- In three years
- First state upgrade
Why it mattersA stable outlook shows confidence in NSW's finances. It can lower borrowing costs. This frees money for services and investment.
AustraliaBetter credit ratings help NSW fund infrastructure and services more cheaply, potentially benefiting residents through faster delivery and more accessible public investment.
✓ Claims checked against the source. checked 13 d ago
