Banks' debt rating downgraded

Moody's warns GFC shows govts can bail out creditors selectively.

Ratings agency Moody's has downgraded the subordinated debt ratings for eight Australian banks as it says the government may not bail out all creditors in a financial crisis.

In a statement, Moody's Senior Vice President Patrick Winsbury said the downgrade reflected a global trend of selectively imposing losses on junior ranked creditors.


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