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Story summary
- S&P Global cut Queensland’s credit rating from AA+ to AA, its first downgrade since 2009.
- S&P said Olympic infrastructure spending created cash deficits that drove the downgrade.
- S&P warned inflation, higher rates, wages and a softening property market could strain finances for 2-3 years.
- Treasurer David Janetzki and Premier David Crisafulli addressed media before the June 2025-26 budget release.
