Australia has a high gross domestic product (GDP) per capita backed by the advanced service industry in addition to abundant natural resources. The economy will likely keep its stable growth thanks partly to the growing population. The government debt ratio remains at a low level under the government's policy emphasizing fiscal discipline. There is no major issue concerning the balance of payments and the stability of the financial system. Based on this recognition, R&I has affirmed the Foreign and Domestic Currency Issuer Ratings at AAA. [....]