Fitch Ratings: Negligible impact from Australia on leadership change

Fitch Ratings, one of the big three credit rating agencies, commented on the latest leadership changes in Australia and said that it is unlikely to have a near-term credit impact for the sovereign.

Key quotes:

   •  No indication that frequent leadership changes have undermined economic growth.
   •  Expects the economy to hold up at 2.8% in 2018 and 2.7% in 2019, 2020.
   •  Government’s thin parliamentary majority likely to remain until next year's election.
   •  But repeated bouts of political turmoil could eventually weigh on business confidence.