Australian investors still happy holders of old-style tier two despite downgrade
- Thursday, 05 September 2013
Australian investors say the downgrade of old-style tier-two debt announced by Moody's Investors Service (Moody's) on September 5 does not reduce the value they see in the asset class. Fund managers continue to believe the pre-Basel III subordinated issuance of, in particular, domestic big four banks is a value hold. They do not anticipate any price action in the wake of the downgrade.
