Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Banks receive ratings downgrade

Staff Reporter 1 minute read

Standard and Poor’s lowered the credit ratings of 11 international banks by one or two notches on Friday because of uncertainty over future performances, The Australian Financial Review reported today.

Some of the banks included Barclays, Morgan Stanley, Citigroup and Bank of America.

The downgrades and revised outlooks reflected the ratings agency’s view of "the significant pressure on large complex financial institutions' future performance due to increasing bank industry risk and the depending global economic slowdown", the paper said.

 

Banks receive ratings downgrade
default
TheAdviser logo
default

 

more from the adviser
handshake news Non-bank moves to fully acquire IA Group

Resimac has announced it is set to acquire the remaining 40 per ...

deposit saving Brokers report longer turnarounds at the big banks

The major banks suffered from longer turnaround times over Decemb...

bank of mum and dad COVID-19 fails to dim home buying goals: survey

Property purchasing goals have remained intact in Australia despi...

FROM THE WEB