FLASH: CHINA’S QUARRY, AUSTRALIA, UPGRADED TO AAA by FITCH

Australia is regarded as one of the world’s safest borrowers, after a global ratings agency upgraded the country to the highest possible rating for its overseas borrowings.

Fitch Ratings upgraded Australia’s foreign currency issuer default rating to AAA from AA+, joining Standard & Poor’s and Moody’s in giving Australia the highest possible rating.

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