You shouldn't be surprised, they have been on negative watch for close on a year and Moodys was the last of the major rating agencies to downgrade. Size of twin deficits made it inevitable. Market will vote with their feet with over time USD most likely weaker, which may impact on commodity prices but not necessarily in AUD terms!
KAU Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
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