May
22

S&P Downgrades Most Australian Lenders on Housing Concerns

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  • Largest banks exempted due to expected government support
  • S&P downgraded 23 institutions amid credit loss concerns

S&P Global Ratings downgraded the credit scores of almost all of Australia’s financial institutions as it warned about the risks of a property market downturn, though expectations of government support saw the largest banks spared.

Some 23 issuers had their ratings lowered, including Bank of Queensland Ltd., Bendigo & Adelaide Bank Ltd. and AMP Bank Ltd., as S&P warned that the country’s wider economic challenges added to the threat…

S&P Downgrades Most Australian Lenders on Housing Concerns

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Categories : Finance, Real Estate

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