SYDNEY Dec 19 S&P Global Ratings on Monday said
a mid-year update on the Australian government's budget update
had no immediate effect on the credit rating or outlook of the
country, though the agency remained pessimistic on the deficit.
"The government's worsening forecast fiscal position, as
outlined in its latest budget projections earlier today, further
pressures the rating," said the agency, which put Australia's
triple A rating on negative watch in July.
"We remain pessimistic about the government's ability to
close existing budget deficits and return a balanced budget by
the year ending June 30, 2021," said S&P.
The agency said it would be watching the government's
willingness and ability to enact new budget savings or revenue
measures over the coming months.
(Reporting by Wayne Cole; Editing by Shri Navaratnam)