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1.Market Observations, 8.Was Sticky

25 Nov 2016 (AFR) – S&P lumps Australian banks with those of Russia and Brazil

(25 November  2016, AFR, p21, by James Frost)

‘Standard & Poor’s has placed the Australian banks in a basket alongside those of Russia, Hong Kong, Brazil, Japan and China in a global outlook for credit quality that identifies banking environments facing negative pressures.  The ratings agency says that 11 of the 20 largest banking markets face challenging conditions, with more banks in the Asia-Pacific and Latin-American regions added to S&P’s negative outlook over the last six months.  Standard & Poor’s lowered the credit rating outlook on Australia from stable to negative in July. In October it followed through by revising the outlook of 25 Australian banks to negative, including Macquarie and Bank of Queensland.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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