Fitch cuts Australia's sovereign outlook to negative, affirms 'AAA' rating
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SYDNEY (Reuters) - Fitch Ratings downgraded its outlook on Australia's coveted 'AAA' rating on Friday to "negative" from "stable", citing the heavy blow to the economy and public finances from the COVID-19 pandemic. It affirmed Australia's prized rating but said a downgrade was possible in the absence of a sufficient post-coronavirus fiscal consolidation strategy or in the face of economic or financial sector distress. The move follows a similar action by global ratings agency S&P last month...