January 12, 2020 / 11:22 PM / 9 days ago

Australia bushfires pose no immediate risk to ratings -S&P

SYDNEY, Jan 13 (Reuters) - The dangerous bushfires raging across Australia pose no immediate risk to the country’s pristine ‘AAA’ sovereign rating, S&P said on Monday.

“We do not believe that these bushfires will affect credit metrics enough to trigger rating changes in the next one to two years,” said S&P Global Ratings credit analyst Anthony Walker.

The Australian bush has been burning for nearly three months and the fires have killed 28 people, claimed 2,000 homes and consumed millions of acres of land and wildlife. The crisis is becoming increasingly political as the country looks at the causes and the government’s response. (Reporting by Swati Pandey; and Peter Cooney)

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