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Treasurer Josh Frydenberg toasts retained AAA credit score

Treasurer Josh Frydenberg says changes to credit laws will cut red tape.

Treasurer Josh Frydenberg says changes to credit laws will cut red tape. Photo: AAP

Treasurer Josh Frydenberg has talked up the federal government’s economic efforts after a global ratings agency reaffirmed Australia’s coveted top ranking.

Moody’s Investors Service has followed Standard & Poor’s and Fitch Ratings in confirming the AAA credit rating.

The assessment differentiates from rivals Standard & Poor’s and Fitch who had cut their outlook on the prized rating to negative.

“They have appraised our effective and proactive policy-making as well as acknowledging the resilience of the Australian economy,” Mr Frydenberg told Nine’s Today show on Wednesday.

“We continue to provide the economic support required for the economy at this very difficult time.”

Moody’s said Australia’s economic strength “will continue to underpin the sovereign’s AAA rating, notwithstanding the deep economic shock caused by the coronavirus”.

-with AAP

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