Original article by Michael Read
The Australian Financial Review – Page: 15 : 13-May-21
S&P Global Ratings placed Australia’s triple-A credit rating on negative outlook in April 2020, in response to the COVID-19 pandemic. The Commonwealth Bank has warned that Australia could potentially be downgraded to AA+ when S&P undertakes its annual review of the nation’s credit rating in September. Fixed income strategists Philip Brown and Martin Whetton attribute this to Australia’s rapidly growing net debt. However, ratings agencies are generally positive about Budget measures aimed at further stimulating the economy.
S&P GLOBAL RATINGS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA
Original article by John Kehoe, Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 24-Jun-20
Moody’s Investors Service expects the Australian economy to contract by five per cent in 2020 due to the impact of the coronavirus pandemic. Moody’s notes that the fall in GDP growth will be lower than many other developed nations, and it expects Australia to return to positive growth in 2021. Moody’s has also affirmed Australia’s AAA credit rating; rivals S&P Global Ratings and Fitch have previously placed the nation’s credit rating on negative outlook, but Australia is only one of 10 nations that have an AAA rating from all three agencies. Treasurer Josh Frydenberg has described this as an "expression of confidence" in the federal government’s handling of the health crisis.
MOODY’S INVESTORS SERVICE INCORPORATED, S&P GLOBAL RATINGS, FITCH RATINGS LIMITED, AUSTRALIA. DEPT OF THE TREASURY
Original article by David Rogers
The Australian – Page: 13 & 16 : 14-Jan-20
A report from Moody’s Investors Service has concluded that the bushfire crisis will reduce GDP growth by less than 0.1 per cent. The ratings agency adds that the federal and state governments have sufficient fiscal buffers to cope with the current crisis, but it warns that an increase in climate change-related natural disasters in the future could negatively affect their credit ratings. Meanwhile, Anthony Walker of S&P says the federal government’s return to a Budget surplus may be delayed by the bushfire emergency, although he adds that this would be unlikely to have any effect on Australia’s credit rating.
MOODY’S INVESTORS SERVICE INCORPORATED, S&P GLOBAL RATINGS
Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 10-Dec-14
Investors have responded bearishly to a move by Standard & Poor’s to reduce the credit rating of Australian-listed Santos from "BBB+" to "BBB". Santos shares closed $A0.60 lower at $A7.70 on 9 December 2014, after reaching an intra-day low of $A7.46. The oil and gas producer has indicated that the ratings downgrade will have no impact on its finances, and notes that it has a healthy balance sheet
SANTOS LIMITED – ASX STO, STANDARD AND POOR’S (AUSTRALIA) PTY LTD, JP MORGAN AUSTRALIA LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB
Original article by Patrick Commins
The Australian – Page: 6 : 28-Nov-19
S&P Global Ratings has praised the federal government’s commitment to a balanced Budget rather than pursuing stimulus measures. The ratings agency has warned that any fiscal stimulus that led to a change in the trajectory of the Budget could jeopardise Australia’s coveted triple-A credit rating. Anthony Walker, S&P’s director of sovereign ratings, has also warned that fiscal stimulus is likely to affect the nation’s ability to respond to future unforeseen economic shocks.
S&P GLOBAL RATINGS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, RESERVE BANK OF AUSTRALIA
Original article by James Eyers, James Frost
The Australian Financial Review – Page: 11 & 14 : 10-Oct-19
Australia’s banks are under growing scrutiny over their failure to reduce their mortgage interest rates by 0.25 per cent in line with the latest official interest rate cut. However, S&P Global Ratings says banks’ profits and capital buffers may be adversely affected if they yield to political pressure and match the Reserve Bank’s rate cut. S&P adds that this could in turn prompt a review of the banking sector’s credit rating. Moody’s Investors Service and Fitch Ratings are also supportive of the banks’ decision to withhold part of the official interest rate cut.
S&P GLOBAL RATINGS, MOODY’S INVESTORS SERVICE INCORPORATED, FITCH RATINGS LIMITED, RESERVE BANK OF AUSTRALIA, IBISWORLD PTY LTD, COPLEY FUND RESEARCH, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET
Original article by James Frost
The Australian Financial Review – Page: 19 : 28-Aug-19
The credit rating of wealth manager AMP has been downgraded from ‘A-‘ to ‘BBB+’ by S&P Global Ratings. The long-term issuer credit rating of AMP Bank and AMP Life have also been downgraded by one notch apiece. S&P has indicated that the ratings downgrade was primarily due to the recent deal to sell AMP Life to Resolution Life, which will have an impact on AMP’s group credit profile. S&P also said it may review AMP’s credit rating if the deal does not proceed, although this may not result in an upgrade.
AMP LIMITED – ASX AMP, AMP LIFE LIMITED, AMP BANK LIMITED, S&P GLOBAL RATINGS, RESOLUTION LIFE GROUP LIMITED
Original article by Jonathan Shapiro, James Frost
The Australian Financial Review – Page: 13 & 16 : 17-Jul-19
S&P Global has advised that AMP’s credit rating will remain on negative watch after the Reserve Bank of New Zealand imposed conditions on the sale of its life insurance business. Nicholas Yap of Nomura believes that AMP is likely to face a credit ratings downgrade at some point, citing factors such as a reduction in the value of its life business and a class action lawsuit over excessive superannuation fees. AMP shares fell 1.6 per cent to $1.78 on 16 July.
AMP LIMITED – ASX AMP, AMP LIFE LIMITED, S&P GLOBAL RATINGS, NOMURA AUSTRALIA LIMITED, RESOLUTION LIFE GROUP LIMITED, RESERVE BANK OF NEW ZEALAND, MOODY’S INVESTORS SERVICE INCORPORATED, MACQUARIE GROUP LIMITED – ASX MQG, CITIGROUP PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED
Original article by Tim Boyd
The Australian Financial Review – Page: 19 : 11-Jul-19
The Australian Prudential Regulation Authority’s move to scale back its capital requirements for the banking sector has prompted S&P Global Ratings to upgrade its outlook for the nation’s four major banks from ‘negative’ to ‘stable’. The credit ratings agency has also upgraded Macquarie Bank’s outlook from ‘developing’ to ‘positive’. Meanwhile, S&P has indicated that a sharp correction in residential property prices is the biggest risk factor for Australian banks.
S&P GLOBAL RATINGS, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, MACQUARIE BANK LIMITED – ASX MBL, BELL POTTER SECURITIES LIMITED
Original article by John Kehoe
The Australian Financial Review – Page: 1 & 4 : 9-Jul-19
S&P Global Ratings upgraded Australia’s credit rating outlook to ‘stable’ in September 2018. S&P’s Anthony Walker says the federal government must retain its target of returning the Budget to surplus in 2019-20 in order to retain its triple-A credit rating. He has stressed the need for the government to have a strong public balance sheet so it can respond with fiscal stimulus if there is an external shock to the economy in the future. Martin Petch of Moody’s Investors Service in turn says the Australian economy will be boosted by factors such as the government’s income tax cuts, official interest rate cuts and spending on infrastructure.
S&P GLOBAL RATINGS, MOODY’S INVESTORS SERVICE INCORPORATED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, RESERVE BANK OF AUSTRALIA, HSBC AUSTRALIA HOLDINGS PTY LTD