This Month
Government spending splurge is blunting RBA rate rises: S&P
Federal and state governments are spending $50 billion a year more than pre-pandemic, making the inflation fight harder, a leading credit rating agency says.
- John Kehoe
Moody’s cuts China credit outlook on rising debt
The ratings agency cut its view of the country’s finances to negative, saying it was concerned about the potential cost of local government bailouts.
- Updated
- Keith Bradsher
November
Why banks spy on your petrol bills
Lenders look at whether you stop short of filling up the tank or start shopping at Aldi to work out whether the home loan is becoming a struggle.
- James Eyers
September
- Exclusive
- NSW budget
Mookhey clears runway for AAA credit rating loss from NSW budget
Treasurer Daniel Mookhey has signalled the NSW government is prepared to lose its top-tier credit rating, arguing its impact on the cost of debt is falling.
- Samantha Hutchinson
August
WeWork credit rating cut further into junk territory by Fitch
Fitch Ratings said it downgraded WeWork’s long-term default ratings and first-lien bonds to reflect continuing pressures on the business.
- Timothy Moore
‘Arbitrary’: Yellen slams historic US credit rating cut
The cut, only the second in history, illustrates how growing political polarisation and stand-offs over spending and taxes could end up costing the US.
- Updated
- Benjamin Pervis
July
Sydney, Melbourne outer suburbs have double the rate of loan arrears
The data from S&P Global Ratings will be used by banks as they determine lending policies such as requiring higher deposits amid rising interest rates.
- Updated
- James Eyers
May
Living costs push more consumers towards credit cards, personal loans
An increasing number of households are turning to unsecured lending to fight inflation pressures as the demand for home and car loans declines.
- Ayesha de Kretser
March
Tesla finally escapes junk rating with Moody’s upgrade
Moody’s Investors Service has become the second credit ratings firm to endow Tesla with investment-grade status.
- Caleb Mutua and Dana Hull
S&P sees ‘material execution risk’ in UBS takeover of Credit Suisse
S&P Global Ratings said it revised its outlook on UBS Group to negative from stable, reflecting pressure on the group’s stand-alone creditworthiness.
- Timothy Moore
Fear of ratings downgrades puts companies off debt-driven deals
Higher borrowing costs have increased the cost of losing prized investment-grade status.
- Harriet Clarfelt
February
- Analysis
- BNPL
BNPL regulation perfect opportunity to clean up credit law mess
Not even the infamous ‘wagyu and shiraz’ case clarified what exactly lenders need to do to check the creditworthiness of borrowers.
- James Eyers
December 2022
Fitch goes negative on Downer EDI citing governance ‘deficiencies’
The credit ratings agency has switched its outlook on Downer’s credit rating to negative from stable amid fears there could be weaknesses in its governance.
- Jenny Wiggins
October 2022
AAA credit rating remains intact after Labor’s first budget
Treasurer Jim Chalmers’ first budget won’t help curb surging inflation but nor will it hinder the task, economists say, while global ratings agencies took a positive view of the fiscal update.
- Ronald Mizen
Optus is paying for credit checks. Here’s how to get yours for free
Some Optus customers whose data was stolen will get credit checks paid for by the telco. But anyone can use these free services to check for fraudulent activity.
- Alexandra Pryor
September 2022
More people more reliant on credit, younger shoppers hardest hit
A Marqeta survey shows cost of living pressures are taking their toll especially on young people, but consumers are still spending.
- Ayesha de Kretser
Privacy regulator calls on banks to amend credit code
Changes will include letting customers shop around for better credit deals without being penalised and new protections for victims of financial abuse.
- James Eyers
July 2022
Buy now, pay later under pressure to adopt credit checks
As their bad debts spiral, the buy now, pay later industry won’t be able to keep resisting credit checks for much longer.
- Ayesha de Kretser
June 2022
Fitch Ratings is not at all worried about rising bank bad debts
An event hosted by the ratings agency painted a positive picture of bank resilience, including big buffers and the inclination to use hardship over defaults.
- James Eyers
AAA rating restored to ‘powerhouse’ WA
Western Australia’s credit rating has been upgraded to AAA by S&P for the first time in almost 10 years after a strong budget and a bright fiscal outlook.
- Jonathan Shapiro
