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Bulletin: Ratings On Westpac Banking Corp. Unchanged After Half-Year Results Announcement May 11
Standard & Poors, May 2011
Abstract
MELBOURNE (Standard & Poor's) May 4, 2011--Standard & Poor's Ratings Services said today that Westpac Banking Corp.'s (Westpac: AA/Stable/A-1+) first-half results for the period ended March 31, 2011, were in-line with Standard & Poor's expectations at the current rating level. 'Westpac reported an overall good quality result for its 2011 fiscal half year, as indicated by its improved financial performance compared with the previous half year across all of its major operating divisions,' Standard & Poor's credit analyst Gavin Gunning said. 'Against key rating factors, Westpac's result was in-line with our expectations.' Westpac's impairment charges for first half 2011 were materially lower than seen in the previous two half-year reporting periods, although of more interest to Standard & Poor's is...
Companies mentioned in this report are: Westpac Banking Corp.
Action: Bulletin
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.
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