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Standard & Poor's reassures Australia that its top-notch AAA rating is safe

AFP
February 28, 2013, 12:47 am TWN

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SYDNEY -- Australia's top triple-A rating appears secure despite high household debt and banks' high reliance on foreign funding, Standard & Poor's said Wednesday.

The ratings agency said Australia's economic resilience, which saw it dodge recession during the global financial crisis, was not just down to luck and its abundant mineral and energy resources.

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