- Western Australia's AAA credit rating has been reaffirmed by the international credit rating agency S&P Global, with a stable outlook
- WA remains the only Australian state or territory with a AAA rating from both S&P Global and Moody's Investors Service
- S&P Global restored the State's AAA credit rating in June 2022, after it was lost under the previous Liberal-National Government in 2013
- Strong financial management allows us to invest in WA'sfuture
S&P Global has reaffirmed Western Australia's AAA credit rating, with a 'stable' outlook, once again highlighting the strong financial management of the Cook Labor Government.
The report acknowledges WA's financial management as "superior to that of most domestic and global peers," and WA's debt-to-revenue ratio that will "remain well below all domestic peers."
S&P's expects the State's budgetary and debt metrics to remain materially stronger than most of its peers, and that the State's record of robust financial management, very highincome economy, and exceptional liquidity support the AAA rating.
WA's strong financial management has been achieved while making important investments in hospitals, housing, schools, roads, wires, poles, and pipes to set the State up for the future, while keeping debt at affordable levels.
WA regained its AAA credit rating from S&P Global in 2022 and a Aaa rating from Moody's in 2023, and remains one of the few jurisdictions globally, after it was lost under the previous Liberal-National Government in 2013.
As stated by Treasurer Rita Saffioti:
"We're proud of our Labor Government's record of strong financial management that has enabled us to make record investments in health, housing, and infrastructure to secure WA's future prosperity.
"Our strong financial management is in stark contrast to the record of the Liberals and Nationals that lost the AAA Credit Rating on the back of reckless spending and a disregard for the State's finances when they were in power.
"The Cook Labor Government will always prioritise the responsible management of the State's finances that enable us to make the investments to secure WA's future.
