Foreign debt levels ‘extreme’

Original article by Adam Creighton
The Australian – Page: 1 & 5 : 10-Oct-16

John Chambers, who heads the sovereign ratings committee of Standard & Poor’s, has warned that Australia’s "AAA" credit rating may be at risk. He has expressed concern about the nation’s rising net foreign debt, noting that it is among the worst of the 130 sovereign nations that the firm rates. S&P downgraded Australia’s credit rating outlook to "negative" in July 2016. Rival rating agencies have also previously expressed concern about Australia’s fiscal position.

CORPORATES
STANDARD AND POOR’S CORPORATION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, RESERVE BANK OF AUSTRALIA, MOODY’S INVESTORS SERVICE INCORPORATED, FITCH RATINGS LIMITED, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN GREENS, WORLD BANK, INTERNATIONAL MONETARY FUND

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