Apr
03
Australia Losing AAA Would Spark Turn to Bank Debt, NAB Says
By-
Downgrade could see ‘more interest’ for Aussie bank paper
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Australian banks receive sovereign support for credit scores
Australia’s biggest banks would find new demand for their debt if the country loses its top credit score.
That’s the view of Eva Zileli, head of group funding at the nation’s fourth-largest lender by market value, National Australia Bank Ltd. Australian banks receive sovereign support for their credit scores and while a downgrade of the country’s AAA rating would force lenders to pay more to tap debt markets, it would also deepen their investor pool as higher-yielding paper lures new investors, she said…
Australia Losing AAA Would Spark Turn to Bank Debt, NAB Says
