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Australia faces ratings downgrade: analysts

Goldman Sachs estimates Treasurer Joe Hockey (above) will reveal a further A$55 billion hole in the government finances when he delivers the budget on May 12.


AUSTRALIA risks losing its top credit rating from Standard & Poor's (S&P) for the first time in more than two decades, Goldman Sachs Group Inc said.

Plunging commodity prices, weaker economic growth and government difficulties in passing legislation are expected to