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Australian Major Banks' Rtgs Affirmed by S&P - 1 Jan 96
Standard & Poors, Jan 1996
Abstract
LONDON -- Standard & Poor's CreditWire 01/18/96 -- Standard & Poor's affirms its long- and short-term counterparty ratings of single-`A'- plus/`A-1' for Australia & New Zealand Banking Group Ltd. (ANZ), double- `A'/`A-1'-plus for National Australia Bank Ltd. (NAB), and single-`A'- plus/`A-1' for Westpac Banking Corp. (Westpac). At the same time, the triple-`A' local currency and double-`A' foreign currency long-term and the `A-1'-plus short-term counterparty ratings for Commonwealth Bank of Australia (CBA) are also affirmed (See list). The rating outlooks are affirmed for ANZ and Westpac at positive, and for CBA and NAB at stable. Competition in Australian banking continues to heighten with pressures being felt on both sides of the balance sheet. Non-bank financial institutions are making inroads into retail...
Companies mentioned in this report are: Australia and New Zealand Banking Group Ltd.,National Australia Bank Ltd.,Westpac Banking Corp.,Commonwealth Bank of Australia
Action: New Rating
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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