S&P says Australia's AAA rating backed by fundamentals
SYDNEY Feb 27 (Reuters) - International credit rating agency Standard & Poor's (S&P) said on Wednesday that Australia's strong fundamentals supported its AAA sovereign rating and meant steep falls in the rating were highly unlikely.
S&P said the resource-rich nation enjoyed a wealthy and open economy, strong institutions and low public debt.
Australia is one of just a few countries with a triple-A rating and a stable outlook from all three major ratings agencies. Last week, Britain was the latest Western economy to loose its triple A ratings.