SYDNEY, May 8 (Reuters) - Moody's Investors Service said on Tuesday Australia's 2018/19 budget is a positive step in improving the country's fiscal outlook, provided underlying assumptions hold.
Reacting to the Liberal-National government's 2018/19 budget, Moody's said Australia's current triple-A sovereign rating continues to reflect its strong institutions, solid growth potential and resilience.
However, a risk remains that the expectations for commodity prices are optimistic and uncertainty persists on whether wages growth will pick up significantly enough to support revenues, Moody's said in a statement.