Moody’s Investors Service on 19 November reaffirmed Western Australia’s AAA credit rating and has given the state a ‘stable’ outlook following a review.
Moody’s highlights the state government’s track record of financial management, commenting that WA’s credit rating would be “sustained by robust expenditure controls and budgeting protocols”, which had led to “significant improvements in the State’s financial metrics in recent years.”
Moody’s also notes the state will fund the majority of its record $38 billion infrastructure investment over the next four years from cash reserves and operating surpluses, without significantly increasing the State’s debt burden – in stark contrast to other states.
The review and triple-A credit rating follows the government’s release of the 2024-25 Annual Report on the State Finances (ARSF) in September, which delivered a seventh consecutive operating surplus.
The total public sector net debt as of 30 June 2025 was $30.2 billion – $3.4 billion lower than projected in the 2025‑26 State Budget.
Western Australia regained its triple-A credit rating from S&P Global in 2022 and Moody’s in 2023, and remains one of the few jurisdictions globally, and the only Australian state or territory, to hold the highest rating from both agencies.
Write to Adam Orlando at Mining.com.au
Images: Trek Metals
