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UPDATE 1-Moody's expects no change to Australia's 'AAA' ratings, outlook
March 8, 2017 / 11:59 PM / 9 months ago

UPDATE 1-Moody's expects no change to Australia's 'AAA' ratings, outlook

(Add Moody’s comment)

SYDNEY, March 9 (Reuters) - Ratings agency Moody’s Investor Service said on Thursday it expects no change to Australia’s ‘AAA’ credit ratings and stable outlook due to the country’s robust institutional framework and stronger fiscal metrics than many of its peers.

“We expect Australia’s financial system and economy to absorb possible external and internal shocks,” Marie Diron, associate managing director at Moody’s told Reuters on Thursday.

Australia is one of only a dozen countries still rated triple-A by all three major credit ratings agencies.

Moody’s said, however, there might be a risk of a ratings downgrade if the government changed its commitment to reduce its persistent budget deficit.

S&P Global Ratings has repeatedly warned it could downgrade Australia’s credit rating after revising its outlook to negative last July. (Reporting by Cecile Lefort; editing by Wayne Cole, G Crosse)

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