- Moody’s downgrades credit ratings of ANZ, CBA, NAB, Westpac, the big 4 Australian Banks.
- Ratings firm revises the banks’ long-term ratings to Aa3 from Aa2, and the ratings outlook to stable from negative.
- Moody cites high levels of household debt as a risk to the banking sector. The ratio of household debt to disposable income rose to 188.7% at end-2016, according to Moody’s.
- Bonds remained largely stable post-announcement.
Moody’s Trims the Credit Ratings for Australian Banks
