Moody's places Australia's 4 largest banks on review for possible downgrade, worried about their...


Moody's places Australia's 4 largest banks on review for possible downgrade, worried about their reliance on overseas funding and noting the speed at which investor confidence can shift. Share prices are unaffected, all rising in Sydney. ADRs: WBK, NABZY.PK, ANZBY.PK, CBAUF.PK.
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  • Tack
    , contributor
    Comments (16267) | Send Message
     
    This is further evidence of what farces the ratings agencies have become. Now, ratings are not based on balance sheets, but on speculation about "investor sentiment." What's next, astrology?
    16 Feb 2011, 07:27 AM Reply Like
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