23 Sep '11, 4am

S&P affirms Australia's AAA rating

SYDNEY: Standard & Poor's on Friday affirmed Australia's long-term AAA credit rating due to the country's monetary policy flexibility and economic resilience. In a statement, the agency also affirmed mining-driven Australia's short-term A-1+ sovereign credit rating, with a stable outlook. "The ratings on Australia reflect Standard & Poor's view of the country's ample fiscal and monetary policy flexibility, economic resilience, public policy stability and its sound financial sector," credit analyst Kyran Curry said. "These factors demonstrate Australia's strong ability to absorb large economic and financial shocks, such as the global recession in 2009. "These strengths are moderated by Australia's high reliance on external savings and commodity income to fund growth, its high household debt, and emerging fiscal pressures associated with an ageing population," Curry added. T...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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earthobservatory.nasa.gov 27 Sep '11, 10pm

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gbca.org.au 20 Sep '11, 6am

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