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Article: AUSTRALIA: MOODY'S ISSUES ANNUAL REPORT ON NORTHERN TERRITORY.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- January 16, 2008
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In its annual report on Australia's Northern Territory, Moody's Investors Services says the territory's Aa1 issuer rating reflects improving financial performance, a well-established institutional framework, and a debt burden that is relatively high, for an Australian state or territory, but is easing. According to lead analyst Debra Roane, "Of key importance to the territory's credit quality is strong fiscal support from the Australian government in the form of commonwealth government grants that aim to equalize revenue and expenditure disadvantages of all Australian jurisdictions." "In 2006/07 the territory moved into a surplus position as a booming economy boosted ...