MELBOURNE (Standard&Poor's) Aug. 30, 2004--Standard&Poor's Ratings Services today said that the Australian federal election, announced on the weekend to take place on Oct. 9, is unlikely to threaten Australia's 'AAA' rating, the highest rating assigned by Standard&Poor's. Both major parties are likely to show fiscal restraint during the election campaign and whoever wins office is likely to keep a tight reign on finances. Fiscal irresponsibility could, however, threaten the rating. "The strength of government finances remains the key to Australia's 'AAA' rating," said Brendan Flynn, credit analyst in Standard&Poor's Sovereign&Public Finance Ratings group. "It will be important for both the government and opposition to resist unaffordable election promises that would
