Moody's credit rating agency has reaffirmed Australia's AAA sovereign debt rating.

Moody's says the rating is based on very high economic resiliency, very high Government financial strength and low susceptibility to risk.

The Australian Government has very low gross debt that is easily affordable, compared to most other nations with that rating, it says.

"As one of the world's most advanced economies, the country has not only a significant natural resource sector - including minerals, hydrocarbons, and agriculture - but also well developed manufacturing and service sectors," the report said.

"It also demonstrates strong governance indicators. In particular, the framework for fiscal policy is transparent and has, until now, consistently kept government debt at low levels."

Acting Prime Minister Wayne Swan says it is another resounding endorsement of Australia's sturdy public finances and strong economic fundamentals.

"Once again, this shows that people like Mr Abbott and Mr Hockey who continually talk Australia’s economy down are wrong," Mr Swan said.

"Despite the substantial global headwinds that are hitting our economy, Australians have reason to be confident about our economic strengths that are unmatched by just about any other developed economy.

"We have a solidly growing economy, low unemployment, contained inflation, strong public finances and a record pipeline of investment that is gathering pace."

The report does note that Australia will have to implement policies to deal with its ageing population.

Last month, Fitch Ratings upgraded its assessment of Australia's sovereign debt to AAA, making it the first time Australia has attained the top rating from all three international agencies.