Moody's changes Queensland rating outlook to negative

Moody's Investors Service (Moody's) changed the outlook on its Aa1 rating on the state of Queensland to negative, from stable, on November 26. Moody's says its decision is based on the deterioration of the state's financial performance since 2007/8, the resulting increase in debt, the protracted length of time over which scheduled improvements will take place, and the potential for progress to be slowed by less supportive conditions.