The latest Australian Credit Rating Agency web page has been updated to include an upgrade to the Australian Government credit rating.
The upgrade was announced by the Australian Bureau of Statistics (ABS) and has been announced by both the Government and the ratings agencies in advance of the ABS announcement on Thursday.
“This update is the latest in a series of updates to the Australia Credit Rating, including the release of the new A2A (Aboriginal and Torres Strait Islander) and A2B (Australian Capital Territory) ratings, the release and update of the A2C (Australian Commonwealth) and C rating and the release/update of the Australian Treasury Bond rating,” the Aussie Bond Rating Agency said in a statement.
The A2AA was released earlier this year and was last updated in December 2017.
A3A and A3B were released earlier in the year.
“As a result of the update to the A3 ratings, there is a reduction in the A rating from A3 to A3+ from the current A3 rating to A4,” the ABS said.
A5 and A5+ are currently in effect.
“The A3 and A4 ratings will remain unchanged for the foreseeable future, as will the A6 and A7 ratings.”
The latest update comes after the Australian Financial Services Association (AFSA) issued its own update on Friday, saying it expected the A1A to be in effect until mid-2020.
“We have not seen any evidence of an impact on creditworthiness on the Australian market,” the AFSA said in its annual credit rating update.
The A1B, A3, A4, A5, A6, A7 and A8 ratings are currently the same for both the Australian and international markets. “
Further changes to the outlook are expected to be announced in the coming months.”
The A1B, A3, A4, A5, A6, A7 and A8 ratings are currently the same for both the Australian and international markets.
“These ratings reflect the A5/A6 and B/A7/B rating scale, with the A7 being the lowest and A6 being the highest rating scale,” the Australian Department of Finance said in an email.
The A2 ratings are the lowest rating scale of the three, with a maximum of A2, A1 and A. The ratings are based on a combination of a number of factors including consumer confidence, financial stability, growth and job creation.”
A/B2/A3 are also the same rating scale for both Australia and the international markets, with A/D/D being the most stable rating scale.”
The A2 ratings are the lowest rating scale of the three, with a maximum of A2, A1 and A. The ratings are based on a combination of a number of factors including consumer confidence, financial stability, growth and job creation.