Moody's expects no change to Australia's triple A credit rating

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Moody’s Investor Service says it expects no change to Australia’s triple A credit rating and stable outlook.

“We expect Australia’s financial system and economy to absorb possible external and internal shocks,” Marie Diron, associate managing director at Moody’s told the news agency Reuters today.

Moody’s in January reaffirmed Australia’s Aaa rating and stable outlook, saying the the country’s future is underpinned by economic resilience in an uncertain world.

In July last year, Standard and Poor’s placed Australia’s AAA rating on credit watch negative from its previously stable outlook, citing persistent government budget deficits as an issue.

Moody’s, however, has kept Australia’s sovereign credit rating despite the increase in government debt, which the agency believes the nation can afford.

Treasurer Scott Morrison has been accusing Labor of sabotaging the budget in order to crash the credit, discrediting the Coalition government.

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