MELBOURNE (Standard & Poor's) Oct. 13, 2004--The Financial Report of the State of Victoria for fiscal 2004, released today, confirms the state's very strong finances, which underlie its 'AAA' rating, said Standard & Poor's Ratings Services. On a cash basis, Victoria finished the fiscal 2004 year in a strong position compared with that estimated at the time of the May budget. Net debt of the general government sector was A$1.6 billion at June 30, 2004 compared with A$1.8 billion estimated in May this year, and A$2.3 billion forecast in the 2003-2004 Budget brought down in May 2003. The collection of more revenue than was budgeted for this year was primarily responsible for the lower debt figure. "The A$1.6 billion net
