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Australia (Commonwealth of) Jan 01
Standard & Poors, Jan 2001
Abstract
The ratings on the Commonwealth of Australia reflect: The government's improved fiscal flexibility, stemming from favorable net public-sector external and net general government debt burdens, estimated at about 15% of exports and 8% of GDP this year, respectively, compared with the highs of 72% and 23% in 1995. The shrinking debt burdens are the result of better fiscal performance based on expenditure restraint, and a successful privatization program. Tax reforms and a wide consensus on fiscal prudence are expected to strengthen budgetary flexibility. Australia's robust economic performance and good prospects, as a result of conservative macroeconomic policies and microeconomic structural reforms that are reinforcing resilience, flexibility, diversity, and competitiveness. Further reforms, including those under the National Competition Policy framework, should...
Companies mentioned in this report are: Australia (Commonwealth of) (Unsolicited Ratings),Australian Industry Development Corp.,Commonwealth Bank of Australia,State Bank of New South Wales Ltd.,Export Finance & Insurance Corp.,ASB Bank Ltd.,CBFC Ltd.,Australian Postal Corp.,ASB Finance Ltd.,The Colonial Mutual Life Assurance Society Ltd.,Airservices Australia,Colonial Financial Corporation Ltd.,Colonial Holding Co. Ltd.,The Colonial Mutual Life Assurance Society Ltd. (NZ Branch),Sydney Airports Corp. Ltd.,CBA Funding NZ Ltd.,Sun Life Hong Kong Ltd.
Action: Review
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: Full Analysis
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