Moody's says Australia's triple-A rating safe for now
Reuters
Published Jul 03, 2016 09:14PM ET
Moody's says Australia's triple-A rating safe for now
SYDNEY (Reuters) - Moody's Investors Service on Monday said short-lived political uncertainty in Australia would have limited implications for the country's coveted triple-A credit rating.
The ratings agency issued the statement after a general election on Saturday produced no clear winner even after more than half the votes had been counted.
An outcome is not expected for several days, raising the prospect of prolonged political and economic instability.
Moody's said it expected fiscal consolidation to remain a key policy objective of the new government, when it is formed.
"Looking ahead, trends in Australia's credit profile will be determined by whether fiscal objectives are effectively implemented, whether external financing conditions remain favorable and how housing market developments affect domestic growth and financial conditions," said Marie Diron, Senior Vice President at Moody's.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.