Standard and Poor's has confirmed its AA+ credit rating for Tasmania, noting the state's strong financial management as a "very positive ratings factor."

The Premier, Lara Giddings, said S&P had a stable outlook for the state, despite a range of global factors that continue to impact on the Tasmanian economy.

"S&P has confirmed what we have been saying for some time - Tasmania is not immune from factors such as the high Australian dollar and the effects of the two-speed economy," Ms Giddings said.

"There is no denying that these factors are having an impact on the Tasmanian economy, state revenues and Budget flexibility.

"Importantly however, this result shows that S&P has confidence in our Budget management strategy and the progress we are making to return the state's finances to a sustainable footing.

"It sends a clear message to investors and the broader business community that the State Government is exercising strong and responsible financial management and has the right policies in place to build jobs and opportunities for the future."

Tasmania's S&P credit rating is now better than South Australia and equal with that of Queensland, which has enjoyed the benefits of the mining boom.

Ms Giddings said S&P had also dispelled the Liberal Opposition's negative fear-mongering about minority government stating:

"While the government is a minority one, it has not affected the state's ability to deliver strong fiscal outcomes. The Labor government relies on the support of a minority party--the Tasmanian Greens--to form government in the lower house, and independents and other parties in the upper house of parliament to pass legislation. This does not appear to have hindered the government's decision-making ability, and our expectation is that fiscal prudence will continue to have broad political support."

S&P noted the Tasmanian Government's financial management was "supported by a culture of planning and transparency."

"The Tasmanian Government has always endeavoured to be up front and transparent about the challenges we face and the strong action needed to address them.

"That stands in stark contrast to the Liberal Opposition, which has repeatedly failed to detail its alternative saving strategies.

"In fact, Will Hodgman is openly taking lessons from the Queensland Premier, Campbell Newman, who promised one thing before becoming Premier, only to take the axe to the public service once he won office."