Monday 19th December 2016 - 10:21 pm

Australia likely to keep its Triple A credit rating

by Alan Thornhill

Australia will probably keep its prized Triple A credit rating, even though the Federal government now admits that its troublesome debt levels are likely to keep rising

over the next four years.

 

However the spokesman for one agency, Standard and Poors, also said pressure would remain on the $A for that time.

 

The concession from the Federal government was made by the Finance Minister, Matthias Corman.

 

If the agencies had proceeded with their original threat,  Australian companies wishing to borrow, to finance finance particular projects, might well have found that much

more expensive than they do now.

 

They said Australia’s foreign debt now is three times as big as it was, when Tony Abbott first became Prime Minister.

 

Labor, too, has been warning of the possible consequences, if Australia lets its foreign debt get out of control


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Alan Thornhill is a parliamentary press gallery journalist.
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