WA ports, utilities may be sold in bid to restore AAA credit rating Port of Fremantle. The WA Government says ports may be sold off to help restore the state's AAA credit rating. PORT assets are being eyed for sale by the West Australian government in a bid to restore the state's AAA credit rating. After Standard and Poor's downgraded the once-boom state to AA+ yesterday, the Liberal-led government said it would pursue asset sales to boost a balance sheet weighed down by mounting debt. The ratings agency said the government didn't have the resolve to implement its Fiscal Action Plan, revealed in the August budget, in order to add revenue. Power and water utilities are potentially on the block, as are port assets, Mr Buswell revealed today. "There are clearly assets on our balance sheet that don't need to be held by the taxpayer," he told talkback radio station 6PR. We're not going to sell ports in totality but there are plenty of assets that sit within WA ports that we could look to sell. He said asset sales would only solve part of the problem, namely too much spending and not enough income. Mr Buswell said the key was major reform of the public sector, but acknowledged job culls would be met with fierce resistance exemplified by today's teacher rallies. If the public response to what I think is some minor changes to the education system is anything to go by, we're going to have a heck of a time getting those public sector reforms through but they're critically important. Asked about the increased cost of borrowing that comes with a lower credit rating, the treasurer said the WA government was already being charged more since S&P downgraded the state's outlook from stable to negative last October. "The interest rate changed that day," he said. So the market's already responded in price. However, it's still an issue - I'm not backing away. We need to take very seriously what Standard & Poor's said yesterday. He said he accepted S&P's message that the government had to better manage its finances and live within its means. If there's an upside, Standard & Poor's have identified a path forward by which we can move back to AAA in a pretty short period of time. We're implementing some things that will get us along that path but it's not going to be easy. Talkback callers lashed the treasurer for saying yesterday that the downgrade was a wake up call for the public and its expectations of government. "Mr Buswell has got a nerve," one said. He said it wasn't the public who wasted money on the botched Muja power station refurbishment, or gave hefty pay rises to government media advisers and the Water Corporation chief. Another caller described Premier Colin Barnett as "stark raving mad" for pushing unaffordable major infrastructure projects. Reaction: CCI says WA didn't heed warnings