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Australian state NSW is on the verge of losing its long-held AAA credit rating

New South Wales is Australia's most populous state and home to Sydney, its most populous city. Treasurer Daniel Mookhey cites his department's analysis in the warning the state is looking at copping a rating downgrade. Within two weeks the state will be paying more than 5% of its income on servicing debt – a threshold that raises a red flag for the agencies. Treasury says NSW already exceeds the debt level of other typical AAA-rated states by 30%.“The state may already be in breach, or is in ri... Read More

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Posted: Jun 19 2023, 23:41

Author Name: forexlive

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