MELBOURNE (Standard&Poor's) May 11, 2010--Standard&Poor's Ratings Services said that its views on the Commonwealth of Australia's (AAA/Stable/A-1+) sovereign creditworthiness are unchanged following tonight's federal budget. The 'AAA' long-term and 'A-1+' short-term sovereign ratings on Australia reflect our opinion of the country's strong public finances, as well as its sound financial sector, resilient economy, and open and transparent policy environment. These strengths offset Australia's high level of private sector external indebtedness at a time of continuing elevated stresses in the global financial system. The 'AAA' rating is the highest rating assigned by Standard&Poor's. The federal government is forecasting a fiscal deficit on a cash basis to be 4.4% of GDP in the year ending June
