Standard & Poor's credit rating upgraded its outlook on Australia AAA sovereign rating to stable from negative outlook on Monday, reflecting the decisive fiscal and an economic recovery from the COVID-19 pandemic. S&P said it was more confident now that the government’s fiscal deficit will narrow toward 3% of GDP during the next 2-3 years after reaching a 10% deficit in the year-ending June 2021.Moody's credit rating for Australia was last set at Aaa with stable outlook. Fitch's credit rating for Australia was last reported at AAA with negative outlook. DBRS's credit rating for Australia is AAA with stable outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Australia thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for Australia as reported by major credit rating agencies.