MELBOURNE (Standard&Poor's) Nov. 27, 2008--Standard&Poor's Rating Services today said it had affirmed its 'AAA' long-term and 'A-1+' short-term local currency credit ratings on the State of Victoria and the Treasury Corporation of Victoria. The outlooks on the ratings are stable. "The ratings on Victoria reflect the state's low levels of debt, the government's robust financial management, the diversity of the state's economy, and strong system of government support," said Standard&Poor's credit analyst Anna Hughes. The stable outlook reflects the government's commitment to fiscal prudence and our expectation that Victoria will continue to manage its financials within the 'AAA' rating category. Even after factoring in some additional transport initiatives, Victoria's balance sheet will remain strong
