S&P: Revised ratings, outlooks for many of Australia’s financial institutions

The US-based credit ratings agency, Standard & Poor (S&P), downgraded 23 Australian financial institutions in its latest report published on Monday.

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23 financial institutions have been downgraded

No news on the 'big 4', but many smaller banks, credit unions, etc. downgraded today.

This is related to concerns over high levels of private sector debt and high house prices