Ratings not affected by PM change: Moody's

Ratings agency Moody's has reaffirmed Australia's AAA rating, saying there is no impact of a change in the leadership of Australia's Liberal Party

Moody's Investors Service says a change in the leadership of Australia's Liberal Party has no implications for the country's sovereign credit rating.

"Australia's AAA rating is supported by the country's very high level of economic strength and moderate level of government debt," Moody's Vice President Martin Petch said in a statement.

Treasurer Scott Morrison will become Australia's new prime minister after winning a Liberal party leadership vote on Friday, ending an internecine battle that has scarred the conservative government ahead of an election due by May 2019.