Business
CBA warns AAA rating faces ‘likely’ September downgrade – The Australian Financial Review
CBA fixed income strategists say that forecasts for continually rising debt could see Australia lose its AAA credit rating, which it has held since 2003.
S&P Global Ratings has given Australia a AAA rating since February 2003, though it downgraded its outlook to negative in April 2020 following the onset of the COVID-19 pandemic.
A negative outlook signals a one-in-three chance that a credit rating could be downgraded within the next two years.
If the government were to lose its AAA credit rating, it would potentially have to pay higher interest rates on newly issued government debt.
According to S&P Global Ratings director Anthony Walker, the negative…
-
Noosa News11 hours agoThe Best Things to Do in Brisbane This New Year’s Eve
-
General10 hours agoFour escape injury after jumping from three-storey unit on fire in Newcastle
-
General20 hours agoThe Billion Dollar Balcony. ASIO’s sovereignty failure
-
General8 hours agoIncreased police powers begin at Adelaide Oval Ashes Test following Bondi attacks