Treasurer trumpets stable AAA outlook

Treasurer Scott Morrison has trumpeted the stable outlook Fitch Ratings has given Australia's AAA credit rating.

Mr Morrison acknowledged Fitch and two other major agencies, Moody's and S&P, have expressed concerns that the composition of the new parliament could make the job of fiscal consolidation difficult.

"We must ensure the government continues to underpin confidence in the economy by living within our means and avoiding higher debt and deficits that will hurt our economy, and threaten our AAA credit rating," he said in a statement on Saturday.

S&P has already placed Australia's credit rating on negative outlook.

Moody's has confirmed it sees the coalition's narrow election win as credit negative for Australia's triple-A rating, making efforts to cut the budget deficit even more difficult.