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Credit Rating Down

Friday 29th August / posted by Chris Wheeldon

Australia’s largest economy has been down graded by another credit rating agency. Moody’s has declared the poor policy response by the Barnett Government has lead to the downgrade.

This is the first time since 1996 that WA has been downgraded to a Double A Plus credit rating with the opposition Labor party declaring it a double disaster. The WA Liberal Party has declared a state wide asset sale will now take place in an attempt to return the credit rating back to it’s Triple A rating.

But what does the downgrads mean for WA? And what does this mean for the nation as a whole?

Paul Van Lieshout reports.

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