Australia strong with AAA credit rating

Australia strong with AAA credit rating

Australia has remained one of the strongest performing economies in the AAA universe since the global financial crisis with a robust mining sector and demand for natural resources that should continue to support Australia's economy.

Treasurer Wayne Swan says the latest AAA credit rating puts Australia in a select group of countries with Australia being one of eight countries to have a AAA rating from the three major global ratings agencies. 

Fitch noted the Government's plan to bring the budget back to surplus had been abandoned due to the strong Australian dollar and volatile commodity prices and Standard and Poor's agree that Australia is strong with a stable economy and a deserved AAA credit rating.  Fitch's agency took the view that the process of fiscal consolidation has slowed rather than reversed.

So it's all good news Down-under