S&P upgrades outlook on Australia's 'AAA' rating to stable from negative
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S&P upgrades outlook on Australia's 'AAA' rating to stable from negative
FILE PHOTO: The city skyline is seen as a tram crosses the Princes Bridge at dusk in Melbourne, Victoria, Australia, February 4, 2020. REUTERS/Andrew Kelly
07 Jun 2021 10:59AM
(Updated:
07 Jun 2021 11:00AM)
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S&P Global Ratings upgraded its outlook on Australia's coveted "AAA" sovereign rating to stable from negative on Monday (Jun 7), citing the country's swift economic recovery from the pandemic-driven recession.
Australia's A$2 trillion (US$1.55 trillion) economy has rebounded sharply to above pre-pandemic levels thanks to the country's successful handling of the COVID-19 pandemic together with massive fiscal and monetary stimulus.