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S&P affirms Australia's AAA rating, retains negative outlook

Reuters  |  SYDNEY 

By Swati PandeySYDNEY (Reuters) - S&P affirmed Australia's coveted triple-A rating on Wednesday, citing low public debt and a "wealthy and resilient economy" although concerns remain about the government's ability to return to a budget surplus. The Australian government last week pledged to deliver a small surplus in 2020/21, ending more than a decade of deficits that have threatened its top-notch credit rating.Both Moody's and Fitch welcomed the government's economic blueprint, adding the budget had no major impact on ratings.Australia is one of only 10 nations in the world with a AAA credit ...

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First Published: Wed, May 17 2017. 11:08 IST