Moody’s Investors Service may downgrade Australia’s four largest banks and their New Zealand unit over concerns it may encounter significant difficulty securing funding from overseas. At least one analyst doesn’t agree with Moody’s assessment. T.S. Lim of Southern Cross said Australia & New Zealand Banking Group, National Australia Bank, Commonwealth Bank of Australia and Westpac Banking Corp. “have just reported and they’ve shown wholesale funding isn’t an issue for them anymore.” Lim says, “Moody’s seems about 12 months too late with this concern.”
