TextEdit alignment not working as expected

import Qt 4.7

Rectangle {
    id: whiteRect
    width: 640; height: 480;

    Rectangle {
        anchors.centerIn: parent
        width: 400
        height: 300;
        color: "blue"

        TextEdit {
                anchors.fill: parent
                font.pixelSize: 30
                color: "white"
                horizontalAlignment: TextEdit.AlignRight
                verticalAlignment: TextEdit.AlignBottom
                wrapMode: TextEdit.WordWrap
        }
    }
}