SYDNEY, Aug 25 (Reuters) - Standard & Poor's on Thursday affirmed the ratings of the Australian state of Victoria at AAA and kept its outlook on negative.
The agency said the negative outlook reflects the risk that the Commonwealth of Australia might be downgraded within the next 12 to 24 months. S&P put Australia on negative outlook in July.
"The ratings on the State of Victoria reflect our view of Australia's extremely predictable and supportive institutional framework, plus the state's very strong financial management and economy, and its exceptional liquidity," the agency said.