..we are the one,we are aaa

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    Australia regains AAA credit rating

    Australia's AAA credit rating has been restored with Treasurer Peter Costello saying it has taken almost two decades for the international credit rating agency Standard and Poor's to lift Australia's rating.

    Mr Costello says this officially closes the chapter on Paul Keating's 'banana republic'.

    "The other international ratings agency Moody's also rated Australia at its highest level as a result of reforms in 2002 last year," he said.

    Federal Opposition leader Simon Crean has welcomed the restoration of the AAA credit rating.

    However he has questioned the way the Government has achieved it.

    "In reducing the Australian public debt by selling all of our assets and losing money in the process quite frankly, they've moved the public debt burden to a private debt burden."

 
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