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Outlook On Bendigo and Adelaide Bank Ltd. Revised To Positive On Expected Improvement In Earnings; Ratings Affirmed Jun 11

Description:
Abstract
MELBOURNE (Standard & Poor's) June 28, 2011--Standard & Poor's Ratings Services revised its rating outlook on Bendigo and Adelaide Bank Ltd. (BEN) and BEN's wholly owned subsidiary Rural Bank Ltd. to positive, from stable. At the same time, we affirmed the 'BBB+/ A-2' long-term and short-term counterparty credit ratings on both banks. We currently believe there is a one-in-three chance that the ratings could be raised to 'A-' from 'BBB+'. "This outlook revision reflects our view that the long-term rating could be raised to 'A-' if BEN's recent improvements in earnings were sustained over the medium-to-long term, and if its concentration to single-name lending exposures does not increase," Standard & Poor's credit analyst Cynthia Goldszmidt said. "The upward rating momentum...

Companies mentioned in this report are:
- Bendigo and Adelaide Bank Ltd.
- Rural Bank Ltd.

Action: Affirmed
Action: Outlook: Positive

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.
 
Companies Mentioned
- Bendigo and Adelaide Bank Ltd.
- Rural Bank Ltd.
 
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