Bank ratings - under threat

Moody's has been going hack & slash on the ratings of our banks. Firstly, it put ANZ, Commonwealth Bank and Westpac on negative credit watch (NAB got hit earlier). Then it downgraded St George and Suncorp, both in Bank Financial Stability Rating and in debt rating - note that debt rating is considering the risk of the company going bankrupt, which involves the share price going to zero.