ASX dips; S&P moves Australia to stable
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S&P revises Australia outlook to stable, affirms ratings
Phillip Coorey
Australia has bucked the global trend and had its credit rating taken off negative watch in response to what agency S&P says was the government’s swift and decisive repose to the coronavirus pandemic.
In a statement that has buoyed the Morison government, S&P revised its long-term rating for Australia from negative to stable.
“At the same time, we affirmed our AAA long-term and ‘A-1+’ short-term unsolicited sovereign credit ratings on Australia,” it said in a statement issued Monday.
Read more about Australian authorities widen casino probe, pressures Crown Resorts buyout on Business Standard. AUSTRAC confirmed the investigations, which it said were the result of proactive regulatory work in the casino sector