July 17, 2019 / 5:46 AM / 2 months ago

Fitch Ratings cuts outlook for Australia's Westpac, ANZ to "negative"

July 17 (Reuters) - Fitch Ratings on Wednesday revised to “negative” from “stable” the outlook for Australia’s No.2 lender Westpac Banking Corporation and its peer Australia and New Zealand Banking Group Ltd.

The change in the lenders’ Long-Term Issuer Default Rating resulted from greater capital requirements sought by the country’s financial regulator, Fitch said in a statement.

The rating agency affirmed both the banks’ ratings at ‘AA-‘. (Reporting by Aditya Soni in Bengaluru; Editing by Clarence Fernandez)

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