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Australian Major Bank Ratings Affirmed Feb 00
Standard & Poors, Feb 2000
Abstract
MELBOURNE (Standard & Poor's CreditWire) Feb. 10, 2000-- Standard & Poor's today affirmed its double-'A'-minus long-term and 'A-1+' short-term counterparty credit ratings on Commonwealth Bank of Australia (CBA), Westpac Banking Corp. (Westpac), and Australia and New Zealand Banking Group Ltd. (ANZ), as well as its double-'A' long-term and 'A-1+' short-term ratings on National Australia Bank Ltd. (NAB). The rating outlook on all the banks remains stable. NAB's credit profile remains supported by a very strong and established track record characterized by diversified business franchises in a number of global markets, and by a very good earnings profile and asset quality. NAB's financial performance continues to demonstrate the advantages of a global organization, with about half consolidated net profit after tax...
Companies mentioned in this report are: Commonwealth Bank of Australia,National Australia Bank Ltd.,Australia and New Zealand Banking Group Ltd.,Westpac Banking Corp.
Action: Affirmed
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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