The Treasurer, Chris Bowen MP, today welcomed Moody's confirmation of Australia's AAA credit rating with a stable outlook.
"This is the highest category of sovereign debt credit rating and is testament to both the strength of the Australian economy and the Government's fiscal management," Mr Bowen said.
Moody's said, "Australia's AAA rating is based on the country's very high economic resiliency, very high government financial strength, and very low susceptibility to event risk".
Moody's also note that, "The government's financial position is very strong in comparison to most other advanced countries" and that Australia's government debt is low in comparison to other AAA-rated sovereigns.
"The Australian economy remains the standout performer of the developed world, with solid growth, low unemployment, contained inflation and strong public finances," Mr Bowen said.
"Today's confirmation by Moody's of Australia's AAA credit rating is another resounding endorsement of the Australian economy and the Government's strong economic management."
Australia is one of only eight countries in the world with a AAA credit rating with a stable outlook from all three major credit ratings agencies.
This follows statements confirming Australia's AAA sovereign debt rating by Standard & Poor's and Fitch after the 2013‑14 Budget.
A copy of the report is available on Moody's website
1 July 2013