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Strong Fiscal Performance Boosts Australia's Foreign Currency Rating to 'AAA'

Published Feb 16, 2003

707 words — Published Feb 16, 2003

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Abstract:

MELBOURNE (Standard&Poor's) Feb. 17, 2003--Standard&Poor's Ratings Services said today it upgraded its foreign currency sovereign ratings on the Commonwealth of Australia to 'AAA', from 'AA+'. The outlook is stable. "Australia has one of the strongest fiscal positions, including 'AAA' rated sovereigns," said Standard&Poor's sovereign credit analyst Ping Chew. "Thanks to modest general government surpluses in all but one year since 1997 and a large privatization program over the same period, net general government debt to GDP is projected to fall to 3% at year-end 2003 from 20% seven years before. Moreover, the public sector is projected to become a net external creditor by 2005," he added. "These strong trends in public savings, however, have

Brief Excerpt:

RESEARCH Strong Fiscal Performance Boosts Australia's Foreign Currency Rating to '###' Publication date: 16-Feb-2003 MELBOURNE (Standard & Poor's) Feb. 17, 2003--Standard & Poor's Ratings Services said today it upgraded its foreign currency...

Report Type:

Ratings Action

Ticker

1525Z@AU

Issuer

Australia

Sector

Global Issuers, Structured Finance

Country

Australia

Region

United States

Format:

PDF

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MLA:	S&P Global Ratings’ Credit Research. "Strong Fiscal Performance Boosts Australia's Foreign Currency Rating to 'AAA'" Feb 16, 2003. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Strong-Fiscal-Performance-Boosts-Australia-s-Foreign-Currency-Rating-to-AAA-298911>

APA:	S&P Global Ratings’ Credit Research. (). Strong Fiscal Performance Boosts Australia's Foreign Currency Rating to 'AAA' Feb 16, 2003. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Strong-Fiscal-Performance-Boosts-Australia-s-Foreign-Currency-Rating-to-AAA-298911>

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