Moody's cuts New Zealand banks' ratings by one notch

Friday 27th May 2011

Credit rating company Moody's Investors Service has cut the ratings of the four major New Zealand banks by a notch, citing the state of the economy.

The ratings of ANZ National Bank, BNZ, ASB and Westpac have been cut to Aa3 from Aa2.

The cut comes after a review of bank ratings by Moody's. The outlook of the ratings is now stable.

NZPA

No comments yet

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News: