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Australia Weathers the Storm Well; Ratings Affirmed; Outlook Stable Jan 02
Standard & Poors, Jan 2002
Abstract
SINGAPORE (Standard & Poor's) Jan. 24, 2002--Standard & Poor's today affirmed all its ratings on the Commonwealth of Australia, including its 'AA+' foreign currency sovereign credit rating. At the same time, Standard & Poor's also affirmed its ratings on government-guaranteed debt of the Export Finance & Insurance Corp. Australia's economy is holding up well during the current global slowdown, with real GDP growth in 2002 projected to continue outperforming those in North America, and in most of Europe and Asia. This resilience has been brought about mostly by past microeconomic structural reforms, low fiscal debt, stable inflation, and conservative macroeconomic management. In addition, the government's substantial fiscal flexibility, achieved from its low level of debt, has also enhanced its capacity...
Companies mentioned in this report are: Australia (Commonwealth of) (Unsolicited Ratings),Export Finance & Insurance Corp.
Action: Affirmed
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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