Business Services Industry
AUSTRALIA: MOODY'S SEES NEGATIVE INDUSTRY OUTLOOK FOR AUSTRALIA/NZ BANKS.(Industry overview)
IPR Strategic Business Information Database, June, 2009
Moody's Investors Service says that its industry outlook for banking systems in Australia and New Zealand is negative, reflecting the impact of the slowdowns in global and domestic economies, but both systems also remain robust. "The slowdowns are clearly making themselves felt on the performances of banks in Australia and New Zealand, but the systems in both countriesremain very sound," says Jerry Chien, MD for Moody's Financial Institutions Group in Asia Pacific.
By contrast, ratings outlooks vary, between stable and negative. Chien was speaking on the release of Moody's latest annual Asian Banking System Outlook, which covers 16 jurisdictions. The report is authored by senior analysts with the Moody's Financial Institutions team. The Australian financial...
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