MELBOURNE (Standard&Poor's) May 4, 2010--Standard&Poor's Ratings Services has said that the budget announced today for the State of Victoria is consistent with the 'AAA' issuer credit rating and the stable outlook already assigned to the state. The improvement in the economic outlook for Victoria has seen a strengthening of Victoria's revenue forecasts since the mid-year budget update. These increased revenue forecasts, in conjunction with a limited number of additional policy measures, ensure that the total public sector will likely see a small accrual operating deficit in fiscal 2010, improving to solid surpluses in the budget year and over the forecast period. Improving operating revenues have also resulted in Victoria's ratio of whole of government net financial
