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Victoria hit with two-notch downgrade as NSW drops by one

Monday, 07 December 2020

On 7 December, S&P Global Ratings downgraded the states of Victoria, to AA from AAA, and New South Wales, to AA+ from AAA. S&P notes Victoria’s unusual two-notch downgrade is mainly due to the fallout from the state’s second wave of COVID-19 infections, which resulted in a substantial and prolonged lockdown.

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