Sunday, 3 February 2013

Canada's Banks downgraded, Australia's are next!

Australia's banking sector has regularly been compared to Canada's banks, but this comparison is likely to sit uncomfortably following the surprise credit rating downgrade over the bulk of the Canadian sector early on Tuesday..... (more here).

Moody's Investors Service Inc. downgraded six of Canada's largest banks, citing concern about high consumer-debt levels and elevated house prices......Canada's banks are still among the world's most highly rated, tied with Australia in second place behind Singapore, Mr. Beattie said. (here)

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