S&P GLOBAL REAFFIRMS AAA CREDIT RATING

CANBERRA, ACT, Aug. 6 -- The Treasurer of Australia issued the following media release:

International ratings agency S&PGlobal has just re‑affirmed Australia's AAA credit rating.

This is a powerful endorsement of the Government's responsible economic and fiscal management at a time of extreme global uncertainty.

S&P says "Australia's fiscal performance is sound" and "Australia has modest public debt by international standards."

S&P specifically calls out the Government's ambitious tax and savings reforms for helping improve Australia's fiscal position over the next decade.

Responsible economic management is the hallmark of the Albanese Labor Government and S&P's report reinforces that.

S&P says Australia's rating benefits from "...