Moody's Downgrades Bendigo and BOQ, Upgrades Two Banks

Mzqaqe on 08/03/2024 - 00:09
Last edited 08/03/2024 - 09:39 by 1 other user

The application of Moody’s revised Advanced Loss Given Failure analysis to certain Australian banks yesterday has led to a shake-up of credit ratings for four banks, including two downgrades for regional banks. Moody’s Investors Service yesterday downgraded the long-term senior unsecured debt rating for Bendigo and Adelaide Bank to Baa1 from a3. Bendigo received an upgrade on its rating for subordinated debt to Baa2 from Baa3. The rating on the bank’s long-term deposits lifted to a1 from a3. For Bank of Queensland, Moody’s cut the long-term senior unsecured debt rating by one notch to Baa1.

Financial Bank of Queensland Bendigo & Adelaide Bank

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Bendigo Bank
Bendigo Bank
BOQ
BOQ

Comments

  • Muzeeb on 08/03/2024 - 00:11
    +17

    Thank you. I was hoping someone would post this so I didn't have to look it up.

  • jv on 08/03/2024 - 00:53

    debt to Baa2

    Baa Baa?

    • Duckie2hh on 08/03/2024 - 14:55

      black sheep

  • Dollar General on 08/03/2024 - 07:47
    +4

    With such a negative attitude, no wonder they are named Moody’s

  • Ocker on 08/03/2024 - 08:13
    +3

    "The downgrade is not related to any change
    in BOQ’s capital and financial resilience which remain strong. "

    The downgrade of one notch was in only one of the 4 categories rated - the other three rating scored an increase.

  • iforgotmysocks on 08/03/2024 - 08:27
    +2

    Any bargains

    • payless69 on 08/03/2024 - 09:49

      more interest for kids

    • freefall101 on 08/03/2024 - 15:32

      A massive banking collapse is about to happen, buy crypto! /s

      Bendigo bank share price went up, so sadly not one there.

  • George Washington on 08/03/2024 - 09:38
    +1

    any cash back deals?

  • Baysew on 08/03/2024 - 09:40
    +1

    Perils of credit card churning.

  • CodeXD on 08/03/2024 - 10:19
    +3

    Thanks, price beat with officeworks.

  • netjock on 08/03/2024 - 10:32

    Who here has got their debt / hybrids?

    Cash on deposit long as you stay under the $250k you'll be fine. Unless the government gets a bit shaky then you might not want to put $250k in a single bank. Reference to Cyprus bank bail ins (where they got depositors with high balances to accept a loss on cash deposits)

  • avoidfullprice on 08/03/2024 - 11:39

    Who has the right of way? No comprehensive insurance

  • payless69 on 08/03/2024 - 11:42

    Virgin Money just jumped near 35%
    Albo rolls out a mattress…..

  • Duckie2hh on 08/03/2024 - 14:55

    What's the TLDR?

    • plmko on 08/03/2024 - 16:36
      +1

      TLDR is the banks that yolo'd credit for mortgages but don't hold much funds have their risks turned up a notch.

  • Gdsamp on 08/03/2024 - 15:07

    that's hwhat you get for dropping interest rate on the future saver.

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