25 May 2012

Moody's says Budget supports rating

8:35 pm on 25 May 2012

Credit rating agency Moody's Investors Services says the Government's plans to reduce debt, and the deficit, support its AAA rating.

Moody's senior credit officer Steven Hess says the Budget reflects the Government's commitment to return to surplus by 2015.

"We do have some concern over the path towards the surplus, which in the first year is not very aggressive, and in the second year is a major reduction in the deficit, so events could happen in between that will affect that."