S&P on Australia's rating
And their outlook is negative (for the rating, not contracting coronavirus, K?)
More from the agency:
- says expect Australia govt's fiscal balance to narrow during the next few years after recording a deficit of about 14% of gdp in fiscal 2021
- in Australia fiscal deficits will persist and debt levels will be elevated for years to come
- says large economic stimulus packages will support Australia's economic recovery
- says negative outlook reflects a substantial deterioration of fiscal headroom at the 'aaa' rating level and downside risks persist