April 7 (Reuters) - S&P:
* S&P SAYS AUSTRALIA OUTLOOK REVISED TO NEGATIVE AS COVID-19 OUTBREAK WEAKENS FISCAL OUTCOMES; 'AAA/A-1+' RATINGS AFFIRMED
* S&P SAYS REVISED OUTLOOK ON AUSTRALIA TO NEGATIVE FROM STABLE TO REFLECT SUBSTANTIAL DETERIORATION OF ITS FISCAL HEADROOM AT 'AAA' RATING LEVEL
* S&P SAYS EXPECT AUSTRALIAN ECONOMY TO PLUNGE INTO RECESSION FOR FIRST TIME IN ALMOST 30 YEARS
* S&P SAYS NEGATIVE OUTLOOK REFLECTS ITS VIEW THAT AUSTRALIA FACES FISCAL AND ECONOMIC RISKS THAT ARE TILTED TOWARD DOWNSIDE