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Moody's downgrades Australia's top banks over housing risk

Risk heightening sensitivity of credit profiles to an adverse shock, it said
Tuesday, June 20, 2017 - 05:50

Australia and New Zealand Banking Group.jpg
Moody's said the long-term credit ratings for Australia and New Zealand Banking Group, Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corp were downgraded to Aa3 from Aa2.

Sydney

MOODY'S Investors Service on Monday downgraded 12 Australian banks, including the four biggest lenders, reflecting what it called elevated risks in the household sector.

Such risk was heightening the sensitivity of the banks' credit profiles to an adverse shock, according to

sentifi.com

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