MNI Moody's: No Impact On Australia's AAA Fm Leadership Change

     SYDNEY (MNI) - Earlier Friday, Scott Morrison emerged as the leader of the

Liberal Party and is now Prime Minister-designate of Australia, replacing

Malcolm Turnbull.

     Below is a note from Moody's Investors Services on the leadership change:

     "The changes in the leadership of the ruling Australian Liberal Party have

no implications for Australia's sovereign credit profile. Moody's is assuming

the absence of significant changes in the nature and implementation of policies.

     Australia's Aaa rating is supported by the country's very high level of

economic strength and moderate level of government debt.

     Our assessment of Australia's institutional strength takes into account a

greater degree of fragmentation in broad political representation at the level

of the Commonwealth over recent years which, at times, constrains the capacity

of successive governments to pursue policy changes."

--MNI Sydney Bureau; tel: +61 2-9716-5467; email: sophia.rodrigues@marketnews.com

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