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Australian Major Banks To Tough Out Economic Downturn Better Than Most Global Peers, Report Says Jul 09
Standard & Poors, July 2009
Abstract
MELBOURNE (Standard & Poor's) July 6, 2009--Australia's four major banks are likely to remain among the strongest banks globally based on their earnings stability, asset quality, and key earnings metrics, Standard & Poor's Ratings Services said in a Credit FAQ published today. The article titled, Why Do The Ratings On Major Australian Banks Remain 'AA', responds to some of the key queries concerning the impact of the global economic downturn on these banks compared to their global peers. The article highlights key differences between the four major Australian banks and five global banks, whose ratings have been lowered in the past two years. The Credit FAQ follows Standard & Poor's affirmation of the 'AA' ratings and stable outlooks on National...
Companies mentioned in this report are: National Australia Bank Ltd.,Australia and New Zealand Banking Group Ltd.,Westpac Banking Corp.,Commonwealth Bank of Australia
Action: General Comment
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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