The West

The Federal Government's troubles getting key Budget savings measures through the Senate have not changed the nation's credit rating.

Standard & Poor's yesterday maintained Australia as one of the world's few triple-A rated nations, saying the country had strong public policy settings and fiscal and monetary policy flexibility.

The agency had downgraded the WA Government credit rating over concerns it was backtracking on major Budget savings initiatives while running high debt.

There are doubts about more than $40 billion in Federal Budget savings including $17 billion tied to abolishing the mining tax.

S&P analyst Craig Michaels said compromises on many measures were expected, which would delay the Government's plan to return the Budget to surplus.

Mr Michaels said the private sector's debt levels were the biggest risks facing the country.

The West Australian

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