Bulletin: Australian State Of Victoria COVID-19 Uncertainty Continues As Restrictions Ease

MELBOURNE (S&P Global Ratings) Nov. 2, 2020--S&P Global Ratings said today that its rating on the state of Victoria remains on CreditWatch with negative implications, where it was placed on Aug. 5, 2020. We expect to resolve the CreditWatch placement within the next few weeks. The resolution will take into account last week's easing of significant and lengthy restrictions that have devastated the state economy. We are assessing the effect of a recent second wave of COVID-19 on the state's economy and government finances. We might also consider the government's budget, which is due to be released in November (see "Australian State Of Victoria 'AAA' Rating Placed On CreditWatch Negative On Pandemic Lockdown Uncertainty," published on Aug. 5, 2020). We

...November 1, 2020 MELBOURNE (S&P Global Ratings) Nov. 2, 2020--S&P Global Ratings said today that its rating on the state of Victoria remains on CreditWatch with negative implications, where it was placed on Aug. 5, 2020. We expect to resolve the CreditWatch placement within the next few weeks. The resolution will take into account last week's easing of significant and lengthy restrictions that have devastated the state economy. We are assessing the effect of a recent second wave of COVID-19 on the state's economy and government finances. We might also consider the government's budget, which is due to be released in November (see "Australian State Of Victoria '###' Rating Placed On CreditWatch Negative On Pandemic Lockdown Uncertainty," published on Aug. 5, 2020). We placed Victoria's long-term rating on CreditWatch negative on Aug. 5, citing a one-in-two likelihood we could lower the rating within the next few months, when we believed there would be greater clarity about the fiscal effect...

Bulletin