An announcement by Moody’s today confirmed sector wide methodology changes for rating hybrid securities and subordinated debt issued by banks globally.
This was first flagged by Moody’s late last year following a period of industry consultation commencing in June 2009. The downgrades are, three notches for the Tier-1 securities, and one notch for one of the Upper Tier-2 securities as described in the attached list.
ANZ and ANZ National Bank Limited’s deposit, senior debt, and Lower Tier-2 subordinated debt ratings are not impacted. Moody’s Guidelines for Rating Bank Hybrid Securities and Subordinated Debt are available on moodys.com.