Fitch Ratings Affirmed Australia’s ‘AAA’ With a Stable Outlook

Fitch ratings has issued its latest ratings report on Australia, affirming Australia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘AAA’ with a Stable Outlook. Australia’s growth pre-pandemic was one of the strongest in the developed world. and it has recovered from the Pandemic strongly than most with a strong trade surplus. Australia saw a rapid rise in the working age population with fast net immigration accounting for over half of the expansion pre-pandemic help fuel the strength. Key Ratings Drivers … Continue reading “Fitch Ratings Affirmed Australia’s ‘AAA’ With a Stable Outlook”

China Property Giant Evergrande Default Imminent Fitch Warns in Downgrade

Fitch Ratings following up from their Evergrande downgrade further warned a credit event could result in contagion and headwinds. Fitch cut the ratings of China Evergrande Group and two of its subsidiaries last Wednesday. Following up from their downgrade last week Fitch added a default would reinforce credit polarization among homebuilders. Furthermore it could result in headwinds for some smaller banks.  Evergrande shares are down about 90% in 14 months, its dollar bonds are trading at 60-70% below par. The … Continue reading “China Property Giant Evergrande Default Imminent Fitch Warns in Downgrade”

Fading Impacts from US Fiscal Stimulus Should See Inflation Decline in 2022 Fitch Says

Ahead of Wednesday’s FOMC Fitch Ratings said a faster-than-expected global economic recovery is boosting prices as supply chains have struggled to keep up. However slower growth, supply adjustments in bottleneck sectors, a switch back towards services consumption, and fading impacts from US fiscal stimulus should see inflation decline in 2022.

Ratings Agency Fitch Weighs Up US Presidential Election Outcomes

Fitch Ratings on Monday in a note on the forthcoming U.S. election looked at the implications for policy. Two of the potential outcomes are most relevant for credit, a “status quo” result or Biden becoming President and Democrats winning Senate and Congress.

New Uruguay Center Right Government Faces Fiscal Challenges says Fitch

Fitch issued a note on Uruguay after the narrow victory of Luis Lacalle Pou of the center-right National Party after 15 years of rule by the center-left Frente Amplio. Pou faces the challenge of reducing a large fiscal deficit in the face of low growth.

Fitch Sees 2019 Australian GDP at 2.0% lowest since 2008-2009 Global Financial Crisis

Fitch expect 2019 Australian GDP growth of 2.0%, lowest since 2008-2009 global financial crisis. Last October the rating agency affirmed Australia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘AAA’ with a stable outlook as did S&P Global Ratings from ‘negative’.

Australia Affirmed AAA Rating by Fitch With Outlook Stable

Rating agency Fitch affirmed Australia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘AAA’ with a stable outlook. Last month Australia’s AAA sovereign rating was affirmed by S&P Global Ratings and the outlook was revised up to ‘stable’ from ‘negative’.