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Australia 'AAA' Long-Term Foreign And Local Currency Ratings Affirmed; Outlook Stable Nov 06
Standard & Poors, Nov 2006
Abstract
MELBOURNE (Standard & Poor's) Nov. 17, 2006--Standard & Poor's Ratings Services today said it had affirmed its 'AAA/A-1+' foreign and local currency sovereign credit ratings on the Commonwealth of Australia (Australia). The outlook is stable. 'The ratings on Australia are supported by the country's solid financial profile, strong institutions, and transparent policy environment. In addition, the ratings are bolstered by Australia's resilient and competitive economy, which is underpinned by past structural reforms,' said Standard & Poor's credit analyst Kyran Curry of the Sovereign Ratings group. 'These strengths are partly offset by Australia's high level of private-sector external indebtedness.' Australia has one of the best fiscal positions globally, which is reflected in the net creditor position of the Australian federal government....
Companies mentioned in this report are: Australia (Commonwealth of) (Unsolicited Ratings),Export Finance & Insurance Corp.
Action: Affirmed
Action: Outlook: Stable
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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