The credit rating agency Fitch has affirmed its credit rating for Australia's major four banks, the Australian and New Zealand Banking Group (ANZ), Commonwealth Bank of Australia (CBA), National Australia Bank (NAB) and Westpac Banking Corporation (WBC).
Fitch maintained its long-term view of long-term issuer default rating (IDR). It refers that household debt was 188% of disposable income until the end of September 2017, with low wages and high unemployment, this leaves households increasingly susceptible to higher interest rates and deteriorating labor market conditions.
