The Australian Defense Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016
- Published: October 2011
- Region: Australia
The impact of the current dislocation in global financial markets on the credit quality of the major banks is an important consideration in Australia's sovereign ratings. This reflects the key role the financial system plays in funding Australia's significant current account deficit. We assign our 'AAA' sovereign credit rating to Australia because of the country's political stability, sound public finances, strong institutions, transparent policy environment, and resilient economy. We expect that Australia will maintain a strong fiscal position, and the credit quality of its major banks will remain very strong (in the AA category). This will enable Australia to withstand exogenous stresses stemming from recent events in the U.S. and global financial markets. Australia's high current account deficit leaves the...
Companies mentioned in this report are: Australia (Commonwealth of) (Unsolicited Ratings)
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: Commentary
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Australia (Commonwealth of) (Unsolicited Ratings)