SINGAPORE (Standard&Poor's) May 14, 2013--Standard&Poor's Ratings Services said today that its unsolicited ratings and outlook on the Commonwealth of Australia (AAA/Stable/A-1+) are not affected by the government's budget for 2014. The federal government plans to return its budget to surplus over a longer period than previously anticipated, largely due to downward revisions to revenue projections. Australia's credit metrics remain supportive of the 'AAA' sovereign rating despite the revised budgetary projections. While the 2014 budget represents some slippage in achieving the government's strategy of returning the budget to surplus following moderate deficits in recent years, the government continues to demonstrate a commitment to prudent fiscal policy over the medium term, in our view. Given the low level
