Live Comments S&P affirms Australia’s AAA rating despite bushfires

    S&P affirms Australia’s AAA rating despite bushfires

    S&P Global Ratings said Australia’s AAA sovereign rating is not at immediate risk from the devastating bushfires. Credit analyst Anthony Walker said, “we do not believe that these bushfires will affect credit metrics enough to trigger rating changes in the next one to two years”.

    “We believe there is capacity within our current ratings on the sovereign and state governments to absorb the fiscal costs, which are relatively small compared with their budgets,” he noted.

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