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Moody’s downgrade of Australian banks won’t raise funding costs – analyst

June 20, 2017

Via: CNBC

A credit ratings downgrade of Australia’s biggest banks by Moody’s Investor Service is not expected to raise their funding costs because the new rating is in line with other ratings agencies, Deutsche Bank analysts said.

Moody’s on Monday downgraded the four largest Australian banks to a long-term credit rating of Aa3 from Aa2, citing risks from high household debt levels after sharp property price rises.

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