Ms LAWRIE - 2012-12-04
In the most recent assessment, Moody’s reaffirmed the Territory’s AA1 rating with a stable outlook. This is the second-highest rating achievable on the Moody’s rating scale. Do you agree with Moody’s assessment or is your maths better than theirs?
ANSWER
Madam Speaker, I thank the Leader of the Opposition for her question. Yes, we were rated as AA1. The feedback we received was a little more detailed than the Leader of the Opposition would have you believe. Moody’s gave us very clear messages about where the Northern Territory is tracking if we continue to track with the level of debt that is accumulating, the growing fiscal imbalance we have inherited from the former government. Moody’s warned that things looked like they were deteriorating, things were not as good as they should be in the Northern Territory.
The Leader of the Opposition raised this issue - the rating that Moody’s will assess for us in the coming weeks. In just a few weeks, Moody’s is coming to town. They have already warned us if we do not correct the situation, if we do not put measures in place to manage the fiscal imbalance properly and responsibly, we will be looking at a downgrade. They have suggested it; they have inferred it in the comments they made.
It is not all rosy as the Leader of the Opposition would have you believe. We were given a clear warning from Moody’s that if we do not pull our socks up, if we do not responsibly manage the budget, we are looking down the tube of doom and gloom.
ANSWER
Madam Speaker, I thank the Leader of the Opposition for her question. Yes, we were rated as AA1. The feedback we received was a little more detailed than the Leader of the Opposition would have you believe. Moody’s gave us very clear messages about where the Northern Territory is tracking if we continue to track with the level of debt that is accumulating, the growing fiscal imbalance we have inherited from the former government. Moody’s warned that things looked like they were deteriorating, things were not as good as they should be in the Northern Territory.
The Leader of the Opposition raised this issue - the rating that Moody’s will assess for us in the coming weeks. In just a few weeks, Moody’s is coming to town. They have already warned us if we do not correct the situation, if we do not put measures in place to manage the fiscal imbalance properly and responsibly, we will be looking at a downgrade. They have suggested it; they have inferred it in the comments they made.
It is not all rosy as the Leader of the Opposition would have you believe. We were given a clear warning from Moody’s that if we do not pull our socks up, if we do not responsibly manage the budget, we are looking down the tube of doom and gloom.
Last updated: 09 Aug 2016