ASX dips; S&P moves Australia to stable
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S&P revises Australia outlook to stable, affirms ratings
Phillip Coorey
Australia has bucked the global trend and had its credit rating taken off negative watch in response to what agency S&P says was the government’s swift and decisive repose to the coronavirus pandemic.
In a statement that has buoyed the Morison government, S&P revised its long-term rating for Australia from negative to stable.
“At the same time, we affirmed our AAA long-term and ‘A-1+’ short-term unsolicited sovereign credit ratings on Australia,” it said in a statement issued Monday.