Moody’s May Downgrade Ratings of Four Australian Banks
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Australia’s four biggest banks and their New Zealand unit may have their ratings cut by Moody’s Investors Service on concern that access to overseas markets for funding will be “significantly restrained.”
Australia & New Zealand Banking Group Ltd., National Australia Bank Ltd., Commonwealth Bank of Australia and Westpac Banking Corp. hold Moody’s second-highest Aa1 rating. They’re likely to remain in the Aa category after the review, Moody’s said in a statement today.