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MyState Financial Ltd. Assigned ?BBB/A-2? Ratings; Outlook Stable Dec 11
Standard & Poors, Dec 2011
Abstract
MELBOURNE (Standard & Poor's) Dec. 20, 2011--Standard & Poor's Ratings Services said today that it has assigned its 'BBB/A-2' issuer credit ratings to Australian financial institution MyState Ltd. 'Our ratings on MyState reflect the company's weak business position, its very strong capital and earnings, moderate risk position, below average funding, and adequate liquidity,' said credit analyst Lisa Barrett. 'The stable outlook reflects our expectation of a smooth integration of The Rock Building Society Ltd. (BBB-/Watch Pos/A-3) into the MyState business, and the continuing sound underlying performance of both businesses.' MyState's business position is supported by the strength of the MyState brand in its historic core service area of Tasmania, and reinforced by high customer satisfaction and equally high customer- and...
Companies mentioned in this report are: MyState Financial Ltd.,The Rock Building Society Ltd.
Action: New Rating
Action: Outlook: Stable
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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