Budget a positive for Aust: Moody's

A major ratings agency says the federal government's budget supports Australia's triple-A credit rating.

Moody's says the federal government's budget supports Australia's triple-A credit rating. (AAP)

Ratings agency Moody's has rated the federal budget as a positive for Australia, saying Tuesday's document contributes to the nation's fiscal strength.

"Taking the budget and our forecasts into account, we assess Australia's fiscal strength as very high, one key support to the government's Aaa rating and stable outlook," the agency said in a statement.

Forecasts for overall government debt are in line with the debt burden of other triple-A rated economies , as is Australia's debt affordability, Moody's Investors Service said.