Global ratings agency Fitch has given New South Wales a triple-A credit rating with a stable outlook, highlighting the State’s strong economic management during COVID-19.
Fitch’s assessment leaves NSW with two triple-A credit ratings (Moody’s and Fitch) and one double-A plus credit rating (S&P Global).
Treasurer Matt Kean said the triple-A rating highlights the strength and resilience of the NSW economy, as the NSW Government continues to help businesses reopen safely on a ‘COVID-normal’ footing.
“This triple-A rating emphasises the strength of our economic management which enables us to deliver our record $108.5 billion infrastructure program, and invest in health, education, transport and innovative technologies.” Mr Kean said.
“Fitch’s triple-A rating recognises our State’s large and diverse economy, and the NSW Government’s strong economic management during the COVID-19 crisis.
“As we look to our future, we are investing $2.8 billion through our COVID-19 Economic Recovery Strategy and $5 billion on WestInvest projects that will help our economy thrive after the pandemic.”
New South Wales is the only state in Australia with triple-A credit ratings. Triple-A is the highest possible rating.
