House of Assembly Fifty-Fourth Parliament, First Session (54-1) 54 1 Parliament of South Australia House of Assembly published Estimates Replies South Australian Government Financing Authority South Australian Government Financing Authority The Hon. S.C. MULLIGHAN House of Assembly Lee South Australian Government Financing Authority In reply to the Hon. S.C. MULLIGHAN (Lee) (24 July 2019). (Estimates Committee B) The Hon. R.I. LUCAS House of Assembly Treasurer The Hon. R.I. LUCAS (Treasurer): I have been advised the following: PNFC and PFC agencies are charged a guarantee fee rate that reflects the general cost differential between an agency borrowing with the benefit of a government guarantee, versus an agency borrowing on a 'standalone' basis. The guarantee fee rate is calculated using the spread between SAFA's credit rating and an agency's allocated rating band, utilising reference points from the four year term to maturity rating curve within the Standard & Poor's investment grade credit rating bands of BBB, A, and AA. All PNFC and PFC agencies that borrow from the Treasurer or SAFA are charged the same guarantee fee. For 2019-20, the guarantee fee rate is 0.99 per cent.