Latest News:  
Beijing   Cloudy/Overcast    0 / 5   City Forecast

People's Daily Online>>World

Fitch Ratings upgrades Australia's foreign-currency IDR to "AAA"


14:07, November 29, 2011

SYDNEY, Nov. 29 (Xinhua) -- Fitch Ratings has upgraded Australia's Long-Term Foreign-Currency Issuer Default Rating (IDR) to "AAA" from "AA+" over the nation's high value-added economy, strong political institutions and flexible policy, the global rating agency said on Tuesday.

"Australia's 'AAA' Foreign-Currency IDR reflects its fundamental credit strengths, including its high value-added economy, strong political, civil and social institutions and its flexible policy framework," Art Woo, Director in Fitch's Asia Sovereign Ratings group, said in a statement on Tuesday.

Fitch also affirmed Australia's Long-Term Local Currency IDR rating of AAA with a stable outlook.

"The combination of low public debt, a freely floating exchange rate, a credible inflation target framework, and liberal trade and labor markets provides Australian authorities the flexibility to run strong counter-cyclical fiscal and monetary policies during both economic downturns and upturns," Woo said.

"These factors have helped Australia weather a number of externally-driven shocks over the past two decades."

【1】 【2】 【3】


Leave your comment0 comments

  1. Name


Selections for you

  1. First snow falls in Taiyuan, N. China

  2. Chinese shadow puppetry

  3. Way back to normal life from drug addiction

  4. FBI equipment and facilities

Most Popular


  1. Durban goals must not crack under pressure
  2. Corporate efforts better than govt ad in selling China
  3. Iceland deal hits local firms with dose of cold water
  4. Are Chinese people truly miserable?
  5. Protecting monetary sovereignty
  6. Think competitively
  7. Public anger hits the roof
  8. Zero-sum mentality should be ditched
  9. US expected to contribute to Asian economy
  10. No end in sight for economic doldrums

What's happening in China

Aussie black-belt hosts travel show

  1. Chinese fire dragon dance shown in SW China
  2. New home sales see weekly 12.7% fall
  3. First snow falls in Taiyuan, N. China
  4. Pork industry safe: experts
  5. Sales target likely to be beaten

PD Online Data

  1. The lion dance in Guangzhou
  2. The flower fair in Guangzhou
  3. Lion dances pay New Year calls in Guilin
  4. Jiangsu´s special New Year traditions
  5. Hakka traditions in Spring Festival