MELBOURNE (Standard&Poor's) May 1, 2007--Standard&Poor's Rating Services said that today's budget for the state of Victoria is consistent with the 'AAA' rating already assigned to the state. The 'AAA' rating is the highest rating assigned by Standard&Poor's. The outlook on Victoria is stable. "The strength of the government's forecast operating performance and balance sheet enables the state to comfortably manage a projected increase in net debtùdue to an expanded capital programùfunding of election commitments, and some tax relief within its current rating," said credit analyst Danielle Westwater, Sovereign&International Public Finance Ratings. The government's policy decisions factored into the budget have reduced the state's forecast operating revenue by around A$125 million and increased
