Australia's AAA rating remains unchanged despite the federal government handing down an $18 billion deficit.
The world's two largest ratings agencies have retained Australia's AAA rating due to the nation's low public debt and prudent fiscal policy in the medium term.
In a statement, Moody's said the outlook for Australia remained strong as the projected budget deficits were only a small percentage of GDP.
Although the government budget is now forecast to remain in deficit through the 2014-15 fiscal year, the projected deficits are relatively small as a percentage of GDP," Moody's said.
