S&P says major Aussie banks not at risk of downgrade amid pandemic
Share:
(Reuters) - Major Australian banks can weather a substantial rise in credit losses triggered by the coronavirus outbreak while credit ratings of most banks in the country are not at risk of a downgrade, ratings agency S&P Global said.The agency, however, expects credit losses at banks in 2020 to more than triple from 2019 levels as the pandemic disrupts business, up from its earlier estimate that losses would nearly double.S&P said major banks would be able to withstand credit losses surging to..