August 24, 2018 / 3:43 AM / 5 months ago

Moody's says Australia ratings not affected by leadership change

SYDNEY (Reuters) - Moody’s Investors Service said on Friday a change in the leadership of Australia’s Liberal Party has no implications for the country’s sovereign credit rating.

“Australia’s AAA rating is supported by the country’s very high level of economic strength and moderate level of government debt,” said Martin Petch, Vice President, Moody’s Investors Service.

Australian Treasurer Scott Morrison will become Australia’s new prime minister after winning a Liberal party leadership vote on Friday, ending an internecine battle that has scarred the conservative government ahead of an election due by May 2019.

Reporting by Swati Pandey; Editing by Eric Meijer

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