Moody’s Investors Service (Moody’s) has changed the outlook on IMB Bank to negative from stable. IMB’s current long-term issuer rating of Baa1 and short-term issuer rating of P-2 remain unchanged.
Today’s action on IMB’s outlook was prompted by the change in outlook on the broader banking system. In early April Moody’s changed its outlook for the broader Australian banking system to negative, reflecting its view that ‘the economic impact of coronavirus-related disruptions will strain banks’ loan performance’.
