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S&P: Australia credit rating unlikely to be hit by coronavirus

S&P Global Ratings came out with the latest note, citing that the economic fallout of the China coronavirus is unlikely to threaten Australia’s triple-A credit rating.

Key Quotes:

Economic impact of coronavirus unlikely to negatively affect Australia’s sovereign rating.

Forecasts virus outbreak will trim 0.5% point from Australia’s real GDP growth in 2020.

Short, temporary delay in balancing government budget unlikely to strain Australia’s creditworthiness.

  • AUD/USD nears five-day high around 0.6740 with eyes on RBA’s Lowe
  • S&P Global: Coronavirus impact likely to shave 0.1%-0.2% off 2020 Eurozone and UK growth

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