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2 May 2018
Fitch Affirms Australia at 'AAA'; Outlook Stable
The news is crossing the wires via Reuters that ratings agency Fitch has affirmed Australia's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'AAA' with a Stable Outlook, citing strong governance, high-income levels, and a track record of macroeconomic stability.
Key points (source: Reuters)
Forecasts a modest acceleration in GDP growth from 2.3% in 2017 to 2.7% in both 2018 and 2019, above the 'AAA' median.
High household debt poses a potential downside risk for the economic outlook and financial stability.
Fitch does not see a severe housing market slowdown.