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Bulletin: Ratings On ANZ Unchanged After Strong Half-Year Performance
Standard & Poors, May 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
MELBOURNE (Standard & Poor's) May 3, 2011--Standard & Poor's Ratings Services said today that its ratings on Australia and New Zealand Banking Group Ltd. (ANZ: AA/Stable/A-1+) are unchanged following ANZ's announcement of its results for the first-half ended March 31, 2011. 'ANZ recorded a strong half year result, performing well against key rating factors,' Standard & Poor's credit analyst Gavin Gunning said. 'Underlying profitability and asset quality improved incrementally from their already-strong position, by international standards,' Mr. Gunning added. While funding is seen by Standard & Poor's as a relative weaknesses for ANZ and other major Australian banks at their current rating levels, Standard & Poor's notes ANZ's results indicate that incremental funding improvements had also been achieved. Reliance on...
Companies mentioned in this report are: Australia and New Zealand Banking Group Ltd.
Action: Bulletin
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