S&P cuts credit rating outlook for second-tier Australian banks

Livewire News

Standard & Poor's has cut its credit rating outlook for second-tier Australian banks, highlighting the growing risks to lenders from rising property prices and household debt. The credit rating agency on Monday lowered its credit rating outlook for 25 financial institutions in the country, including Bank of Queensland, Bendigo and Adelaide Bank, Macquarie Bank and AMP Bank. "We believe the risks of a sharp correction in property prices could increase and if that were to occur, credit losses incurred by all financial institutions operating in Australia are likely to be significantly greater," S&P said. (VIEW LINK)


Livewire News

Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.

Expertise

No areas of expertise

housing credit ratings ASX:BOQ ASX:BEN S&P

Comments

Please sign in to comment on this wire.