|
Moody’s
has assigned and published ratings on the government debt of Australian national
government since the 1960s. We currently rate the debt obligations of the
Australian sovereign government and its local governments across the nation.
Moody’s publishes several
different types of ratings to capture divergent risks. These include country
ceiling ratings for foreign currency bonds and notes (both long- and
short-term) and country ceilings for foreign currency bank deposits (both
long- and short-term). These ceilings represent the highest ratings that an
issuer of foreign currency obligations is likely to receive in accounting for
foreign currency transfer risk and systemic risk in the nation. Although in
countries rated below Aaa Moody’s under certain
circumstances can assign ratings higher than the country ceiling to certain
issuers, this is not an issue in Australia because of its Aaa
country ceilings.
Using our rating scale
from Aaa to C, we also rate long-term government
bonds denominated in both foreign and local currencies, and we offer domestic
and foreign currency issuer ratings to national, regional and local
governments that may not have any debt instruments outstanding. Furthermore,
we provide local currency guideline ratings that (1) assess the country-level
risks that need to be incorporated in ratings of locally domiciled borrowers
and (2) provide some indication of the highest rating level likely for debt
issues denominated in local currency.
Moody's sovereign risk
services and regional/local government coverage features analyst access,
rating update reports, credit reports and conference calls.
|