S&P downgrades South Australia on weakening budget position
- Friday, 01 June 2012
Forecast persistent state budget deficits caused by revenue pressures caused Standard & Poor's (S&P) to downgrade the state of South Australia and its funding entity, the South Australian Government Financing Authority, to AA+ on May 31. The state was already on negative outlook from S&P, and that outlook has been maintained even following the one-notch downgrade.
