January 25, 2018 / 4:31 AM / 7 months ago

BRIEF-S&P Says Australia Ratings Affirmed At 'AAA/A-1+;Outlook Remains Negative ‍​

Jan 24 (Reuters) -

* S&P SAYS AUSTRALIA RATINGS AFFIRMED AT ‘AAA/A-1+’; OUTLOOK REMAINS NEGATIVE ‍​

* S&P-NEGATIVE OUTLOOK ON AUSTRALIA REFLECTS VIEW OF SIGNIFICANT UNCERTAINTY AROUND ABILITY OF BUDGETARY POSITION TO RETURN TO SURPLUS BY EARLY 2020S‍​

* S&P ON AUSTRALIA - RATINGS COULD STABILIZE IF GOVERNMENT DEMONSTRATES ABILITY TO ACHIEVE SIGNIFICANT, SUSTAINED IMPROVEMENT IN MEDIUM-TERM BUDGET OUTLOOK

* S&P- BELIEVE THAT POTENTIAL FOR WAGE GROWTH TO REMAIN LOW POSES DOWNSIDE RISK TO AUSTRALIAN GOVERNMENT’S FISCAL REVENUE

* S&P- EXPECT AUSTRALIA’S NET GENERAL GOVERNMENT DEBT TO PEAK AT CLOSE TO 26.3% OF GDP IN THE FISCAL YEAR ENDING JUNE 30, 2020

* S&P- CONSIDER AUSTRALIA'S ECONOMY TO BE HIGHLY VULNERABLE TO ANY MAJOR SHIFT IN OFFSHORE CAPITAL FLOWS Source text : bit.ly/2n9JKPe

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