S&P revises Australia view to stable

S&P said it revised its outlook on the long-term ratings on Australia to stable from negative.

The agency also affirmed the AAA long-term and A-1+ short-term unsolicited sovereign credit ratings on Australia.

“The stable outlook reflects our expectations that the general government fiscal balance will return to surplus by the early 2020s,” S&P said in a news release.

“We expect steady government revenue growth supported by the strong labor market and relatively robust commodity prices, to be accompanied by expenditure restraint.

“We also expect property prices to continue their orderly unwind, and that this slowdown won't weigh heavily on consumer spending and the financial system's asset quality.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.