Fitch has downgraded the credit ratings of three of the big four banks in Australia, citing higher funding costs.
Commonwealth Bank, Westpac and National Australia Bank were downgraded to AA- from AA.
ANZ, which already had a rating of AA-, was unchanged.
The ABC reports Standard & Poor's also downgraded the credit ratings of all four banks from AA to AA-in December.
In a statement issued on Friday, Fitch said:
''Wholesale funding, particularly when sourced cross borders, has become more vulnerable to swings of confidence.
''Despite some improvement since 2008, all four banks retain a reliance on wholesale funding, particularly from offshore markets.''
