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Moody's downgrades Qld outlook

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BRISBANE, Nov 26 AAP

November 26 2012, 11:15AM

Ratings agency Moody's has downgraded its outlook for Queensland's AA1 credit rating, from stable to negative.

"The change in the outlook reflects the deterioration in the state's financial performance which has persisted since fiscal 2007/08 and the resultant high levels of indebtedness," the agency said on Monday.

"Scheduled improvements will only take hold in a few years, and progress could be slowed by the potential emergence of less supportive conditions."