S&P's Gunning on Australian Banks' Credit Ratings

Dec. 2 (Bloomberg) -- Gavin Gunning, the head of financial services ratings at Standard & Poor's in Melbourne, talks about credit ratings for Australian banks. Commonwealth Bank of Australia, the nation’s largest lender, and its three biggest rivals were downgraded by S&P as the ratings company applied its revised criteria to Asia-Pacific financial institutions. Gunning speaks with Susan Li on Bloomberg Television's "First Up." (Source: Bloomberg)