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Bulletin: Ratings On Australia Unaffected By Government's 2012 Budget May 11
Standard & Poors, May 2011
Abstract
MELBOURNE (Standard & Poor's) May 10, 2011-- Standard & Poor's Ratings Services said today that its views on the Commonwealth of Australia's (unsolicited rating AAA/Stable/A-1+) sovereign creditworthiness are not immediately affected by the Labor government's proposed 2012 budget. 'The budget broadly continues a strategy of stabilizing the federal government's fiscal position following three successive years of deficits and a rising debt burden,' Standard & Poor's credit analyst Kyran Curry said. The budget foresees federal deficits on a cash basis of A$49.4 billion (3.6% of GDP) and A$22.6 billion (1.5% of GDP) in fiscal year 2010-2011 (ending June 30, 2011) and 2011-2012, respectively. The deficits provide for additional spending to enhance transport infrastructure, participation in education and the labor force, as...
Companies mentioned in this report are: Australia (Commonwealth of) (Unsolicited Ratings)
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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