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FITCH LIFTS AUSTRALIA'S FOREIGN CURRENCY RATING TO AA-PLUS.
SYDNEY, Feb 4 Asia Pulse - International ratings agency Fitch Ratings today lifted the Commonwealth of Australia's long-term foreign currency rating to AA-plus from AA.
Fitch said the upgrade reflected the continuing impressive performance of the Australian economy, its capacity to withstand shocks - demonstrated again through the global economic and financial turmoil of 2001/02 - and a clearer picture of how the private sector managed foreign exchange risk.
The short-term foreign currency rating remains unchanged at F1-plus, as does the long-term local currency rating of AAA.
At the same time Fitch lifted the State of Queensland's long-term foreign currency rating to AA-plus from AA.
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