Australia’s ‘AAA’ rating stable

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(Australian Associated Press)

 

Ratings agency Fitch has reaffirmed Australia’s triple-A rating after the federal government’s mid-year budget update, saying it expects the country’s public debt ratios to remain in line with the median criteria for the grading.

“Fitch’s projection of Australia’s public debt trajectory remains consistent with our previous assessment in September 2016, when we affirmed Australia’s ‘AAA’ rating with a stable outlook,” it said in a statement on Monday.

The ratings agency however said its assessment could change if there is a material deterioration in the public debt profile, through a change to the economic or policy outlook, or a change in the likelihood and magnitude of potential shocks.

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