Earlier post here with the headline: S&P have affirmed Australia rating at 'AAA', outlook revised to stable

In brief:

  • S&P Global Ratings upgraded its outlook on Australia's "AAA" sovereign rating to 'stable' from 'negative'
  • says the economy has rebounded sharply to above pre-pandemic levels
  • thanks to the country's successful handling of the coronavirus pandemic, massive fiscal and monetary stimulus
  • S&P more confident now that the government's fiscal deficit will narrow toward 3% of gross domestic product during the next 2-3 years after reaching a 10% deficit in the year-ending June 2021

Rising commodity prices for Australia's exports played a role also.

Anyway, link here if you'd like more.