Victoria’s credit rating could become the worst in history

Victoria’s credit score could soon be the lowest its ever been with rating agencies warning the state’s score could slip lower in next week’s budget.

Economics editor at The Australian Financial Review, John Kehoe, said the pressure on the budget has been apparent since the last election, but rising interest rates have exacerbated it.

“We had a pretty good inkling that Victoria’s state finances was just not on a sustainable path,” Mr Kehoe told 3AW Breakfast.

Press PLAY to hear how Victoria’s credit ranking tanked so low

The state’s credit rating is also the lowest in the nation.

Image: Getty Images (Asanka Ratnayake).