S&P cuts ratings on Australia banks, others, after criteria change

Dec 1 (Reuters) - Standard & Poor's Ratings Servicescut the ratings on five Australian banks on Thursday as a resultof major changes in the criteria it uses to assess risk. Australia and New Zealand Banking Group Ltd,Commonwealth Bank of Australia, National Australia BankLtd and Westpac Banking Corp were each cut onenotch to AA minus, the fourth highest credit rating on S&P'sscale. Macquarie ...