What is a AAA credit rating and why does Australia need one?

Jonathan ShapiroSenior reporter

Updated Apr 30, 2015 – 2.21pm, first published at 10.21am

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There is much speculation just now about whether Australia is about to lose its AAA credit rating. It is another headache for Treasurer Joe Hockey as he crafts his second budget. But what exactly is this rating, where does it come from and does it matter? Jonathan Shapiro answers the AAA questions you always wanted answered.