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Articles on Credit rating

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In his Tuesday National Press Club address, Chris Bowen highlighted the need to preserve Australia’s AAA credit rating. Dean Lewins/AAP

Aspiring treasurer Chris Bowen looks fit for purpose

Chris Bowen presented at the National Press Club on Tuesday as a well-prepared alternative treasurer, who could slot into the real job very easily if July 2 brought the chance. “Neat” is the word that…
Deloitte strongly argues the budget has a revenue problem, not just a spending problem – a proposition consistently rejected by Treasurer Scott Morrison. Lukas Coch/AAP

Deloitte projects $129 billion four-year cumulative deficit, proclaims ‘a revenue problem’

The federal budget deficit from now through to 2018-19 is likely to be $129 billion, $21 billion worse than in the December official budget update, according to Deloitte Access Economics.
Much is expected of South African President Jacob Zuma when he delivers his 2016 State of the Nation Address. Reuters/Sumaya Hisham

State of the Nation address: what Zuma needs to tell South Africa

The general loss of faith in the economy is the most important issue President Zuma must address. More radical social and economic transformation, with emphasis on land reform will be most critical.
Treasury secretary John Fraser says if Australia were to permanently reduce net debt, it would have to achieve sustained structural budget improvements. Lukas Coch/AAP

Don’t be complacent about Australia’s top credit rating: Treasury secretary Fraser

Australia should not be complacent about maintaining its top credit rating, which depends on achieving budget repair and a more diverse economy, Treasury secretary John Fraser has said.
South African academics are extremely worried about President Jacob Zuma’s axing of the finance minister. Reuters/Stefanie Loos

Academics in South Africa voice their dismay at Zuma’s actions

Academics from several South African universities say that in the current world economy decisions about any country’s finance minister cannot be made “lightly or capriciously”.
Credit rating agencies often elicit criticism when they downgrade countries. EPA/Justine Lane

Q&A: why credit rating agencies matter for developing countries

Credit rating agencies have come in for a lot of flack. But the bottom line is that to attract investors with deep pockets countries can’t avoid having a credit rating. And a good one at that.
Qantas CEO Alan Joyce is under pressure, with the airline flagging a $300 million half-year loss. Alan Porritt/AAP

Runway to junk looms large for cash flow negative Qantas

Qantas has flagged deteriorating trading conditions and a potential A$300 million half-year loss in a statement to the market that has sent its share price tumbling. The airline has stepped up its cost…
Subprime ratings have come back to haunt Standard and Poor’s, which is now facing civil action from the US government. AAP

US government’s lawsuit against S&P puts ratings agencies back in the spotlight

Five billion dollars is a lot of money — and that is the amount which the US Justice Department claims were losses incurred by US banks and credit unions from investing in CDOs rated by Standard &amp…
Demonstrators in front of Standard & Poor’s credit rating agency offices in Paris 15 January 2012. AAP

Why we should be wary of ratings agencies

For decades, credit ratings agencies were largely ignored by the masses, but in recent months they have continued to hit the headlines again and again. The big three (Standard & Poor’s, Moody’s and…

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