New South Wales has had its Moody’s Analytics (Aaa) and Fitch Ratings (AAA) reaffirmed and the S&P rating (AA+) maintained.

For more information, read the latest Treasurer's release.


Learn more about credit ratings

A credit rating is a measure of how risky a borrower is (the borrower’s expected willingness and capacity to repay any debt on time). Types of entities may include (but are not limited to) an individual, country, state, city or company.  Ratings vary according to the type of debt instrument (and its terms and conditions), as well as the borrower’s credit profile. 

Higher credit ratings may lower the cost of borrowing and assist an entity in accessing financial markets. 

For Government entities, the highest possible ratings are Aaa (Moody’s), AAA (S&P) and AAA (Fitch). The lowest are C (Moody’s), D (S&P) and D (Fitch).

Last updated: 29/11/2023