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1.Market Observations, 8.Was Sticky

20 June 2017 (TheAge) – Moody’s downgrades Australian bank credit ratings

(20 June 2017, The Age, BusinessDay, p20, by: Mathew Dunckley, Clancy Yeates)

‘Credit rating agency Moody’s has downgraded a dozen Australian banks, including the big four, citing increased risks in the nation’s increasingly indebted households. Moody’s stripped the big four banks – the Australia and New Zealand Banking Group (ANZ), Commonwealth Bank of Australia (CBA), National Australia Bank (NAB), and Westpac Banking Corporation (Westpac) – of their Aa2 long-term rating and placed them on the next level down at Aa3, although it did not alter their short term ratings.’

Read more at TheAge.com.au

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