Markets

One of the world’s largest ratings agencies on Brexit: ¯\_(ツ)_/¯

Fitch, one of the “Big Three” credit ratings agencies, believes Brexit is now too complicated to call. It has removed its base case, because “there is such a wide range of potential Brexit outcomes that no individual scenario has a high probability.” The ratings agency also believes that the possibility […]
One of the world’s largest ratings agencies on Brexit: ¯\_(ツ)_/¯
Markets

Fitch changes outlook on the Commonwealth Bank to negative

Fitch Ratings has revised its outlook on the Commonwealth Bank to negative from stable, citing governance risks and the financial services royal commission. However, the agency affirmed CBA’s long-term issuer default rating at AA-. Fitch says the outlook has been revised to negative to reflect the Commonwealth’s risks in remediating […]
Fitch changes outlook on the Commonwealth Bank to negative
Markets

Fitch keeps BHP’s credit rating at ‘A+’ with a negative outlook

Ratings agency Fitch has affirmed BHP Billiton’s long-term credit rating at A+ with a negative ratings outlook. Here’s the basis for its decision. The ratings affirmation is supported by the recovery in BHP’s financial performance on the back of stronger than expected results and cash-flow generation since mid-2016, and steps […]
Fitch keeps BHP’s credit rating at ‘A+’ with a negative outlook
Markets

FITCH: More macroprudential tightening ahead on home loans

The move this month by Australia’s banks to increase mortgage rates for owner-occupiers should help cool growth in lending to more vulnerable borrowers, according to ratings agency Fitch. However, high household debt and rapid property price rises are already key risks to the performance of the banking sector, says Fitch […]
FITCH: More macroprudential tightening ahead on home loans
Markets

Fitch puts Australian banks on negative watch

Fitch Ratings has revised its outlook on Australia’s banking for 2017 to negative from stable. In its 2017 outlook report, the agency says the change reflects an increase in macroeconomic risks and pressure on profit growth. The change follows Moody’s which in August last year changed the outlook for the […]
Fitch puts Australian banks on negative watch
Markets

FITCH: There’s soft profit growth ahead for Australian banks

Profit growth for Australia’s major banks will be soft this year, according to rating agency Fitch in its latest banking review. Fitch says the weaker growth mainly reflects competition, low interest rates, moderate credit growth and rising impairment charges. The big four banks have been reporting worse than expected profit […]
FITCH: There’s soft profit growth ahead for Australian banks
Markets

FITCH: A China hard landing is still the ‘key global risk’

China’s rebalancing from an economy dominated by investment to one that rests on consumption continues. But it’s likely to be a “protracted process” according to rating agency Fitch. In a new report which says that a “China hard landing remains (the) key risk to global growth” Fitch highlights that “the […]
FITCH: A China hard landing is still the ‘key global risk’