I had the headline comments yesterday on this from a client note issued by GS: Goldman Sachs see risk to Australia's AAA rating on negative S&P outlook
The note is from Chief economist Tim Toohey.
The Australian Financial Review has a story on it (out overnight):
- Government running out of time to contain another $55 billion blowout in the May 12 budget
- Faces its first credit ratings downgrade since 1989
- Standard & Poor's could place Australia's AAA rating on "negative outlook" within months
- Raises chance of downgrade
- "A mix of sharply lower commodity prices, weak growth and political impasse have resulted in an unprecedented degree of fiscal slippage over recent years"