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…
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