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Australia and New Zealand Banking Group Ltd. Nov 10
Standard & Poors, Nov 2010
Abstract
Strong business position in core geographic markets Very strong asset quality by international standards Sound profitability track record Low-risk traditional retail and commercial banking model Significant dependence on wholesale offshore funding, which could cause a disruption to funding access The 'AA' issuer credit rating on Australia-based major bank Australia and New Zealand Banking Group Ltd. (ANZ) is affirmed, reflecting our expectation that ANZ will remain among the strongest banks globally based on key earnings metrics, earnings stability, and asset quality. The ratings on ANZ continue to reflect its strong market positions in its key markets of Australia and New Zealand. A key factor underpinning our affirmation of the 'AA' rating is our expectation that ANZ's credit loss experience will remain...
Companies mentioned in this report are: Australia and New Zealand Banking Group Ltd.,National Australia Bank Ltd.,Westpac Banking Corp.,Commonwealth Bank of Australia,Esanda Finance Corp. Ltd.,ANZ National Bank Ltd.,ANZ National (Int'l) Ltd.,OnePath Life Ltd.,UDC Finance Ltd.,OnePath Australia Ltd.
Action: Review
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: Full Analysis
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