S&P downgrades Australian major banks

Note: This section contains information in English only.
Source: Bloomberg
Standard & Poor's after revision of its criteria downgraded Commonwealth Bank of Australia and three its most significant competitors. Westpac Banking Corp, Commonwealth, National Australia Bank Ltd. and Australia & New Zealand Banking Group  Ltd. were downgraded on level from AA to AA-. Chirs Viol UBS AG' credit analyst suggests it still is a good rating as it keeps Australian banks among top rated financials globally. 
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