No change to Australia's AAA rating after budget: S&P

Credit agencies Standard & Poor's and Moody's on Tuesday said Australia's AAA rating with a stable outlook was not in danger after the government unveiled its budget, with deficits seen as moderate and declining. Australia is one of only a handful of nations to hold the top rating and S&P said its stance was not changed by a deficit expected to come in at Aus$35.1 billion (US$28 billion), or 2.1 percent of GDP, in 2015-16. S&P noted that sharp falls in Australia's