Fitch ups Australia sovereign credit rating to AAA

SYDNEY (MarketWatch)
On the same day it downgraded the outlook on U.S. sovereign ratings, Fitch Ratings said in a statement dated Monday that it has upgraded Australia's long-term foreign currency issuer default rating to AAA from AA+ with a stable outlook.
The upgrade reflected the country's "fundamental credit strengths, including its high value-added economy, strong political, civil and social institutions and its flexible policy framework," the ratings firm said.