FED:AAA ratings prove economy strong: Swan

AAP General News (Australia)
12-23-2011
FED:AAA ratings prove economy strong: Swan

Acting Prime Minister WAYNE SWAN says Australia's triple-A credit rating by international
ratings agency Moody's proves the economy is strong and the federal opposition shouldn't
talk it down.

The treasurer also says a report in Sydney's Daily Telegraph, suggesting the country
is on the brink of an unemployment catastrophe, is complete rubbish.

MOODY'S says Australia's AAA credit rating is supported by the very low level of public
debt and the country's strong financial system.

Mr SWAN says Moody's announcement follows last upgrade of Australia's credit rating
to AAA by other ratings agencies.

AAP RTV jcd/wz

KEYWORD: ECONOMY (CANBERRA)

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