/RATINGS: Moody's Investors Service.......>

AUSTRALIA: /RATINGS: Moody's Investors Service says in a new report "that

Australia's (Aaa stable) general and state governments can absorb the near-term

credit impact from the ongoing bushfires, supported by their ample fiscal

buffers. However, over time, increasingly frequent and severe natural disasters

related to climate change are likely to result in rising and recurring costs

that will test the government's capacity to mitigate these costs. "The 2019-20

bushfire season has been characterized by unprecedented levels of destruction,

primarily concentrated in the state of New South Wales (Aaa stable) and to a

lesser extent Victoria (Aaa stable), causing tragic loss of life. The fires will

create direct costs, lost revenue and longer-term spending needs for both the

general and local governments," says Martin Petch, a Moody's Vice President and

Senior Credit Officer."