SYDNEY - Ratings agency Standard & Poor's said on Tuesday that Australia's budget supported its view the government was on track to return to surplus, and left its AAA rating and stable outlook unchanged.
"The central government will achieve stronger fiscal outcomes than we anticipated in the near term because of robust commodity prices and terms of trade," the ratings agency said in a statement.
"The federal budget released today supports our view that the government is on track to return to surplus," it said. Australia is one of 11 countries with a AAA rating from S&P.
(Reporting by Tom Westbrook; Editing by Richard Borsuk) ((tom.westbrook@thomsonreuters.com; +61466355340; Reuters Messaging: tom.westbrook.thomsonreuters.com@reuters.net; twitter.com/tswestbrook))
