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BULLETIN: National Australia Bank's Ratings Unaffected by Lower Earnings Outlook Aug 04
Standard & Poors, Aug 2004
Abstract
MELBOURNE (Standard & Poor's) Aug. 2, 2004--Standard & Poor's Ratings Services said today that its counterparty credit ratings on National Australia Bank Ltd. (NAB; AA-/Stable/A-1+), and related entities, are currently not affected by the company's dampened outlook for profitability in fiscal 2004 and 2005. The outlook on NAB remains stable. 'The lower earnings recently forecast by the bank are within the rating tolerances set at the time of Standard & Poor's downgrade on March 12, 2004, and was an expected franchise consequence of recent risk management problems experienced by the bank,' said Standard & Poor's credit analyst Craig Bennett, Financial Services Ratings. 'The bank's profitability forecast trend compares less favorably with domestic peers', but, by international standards, remains supportive of...
Companies mentioned in this report are: National Australia Bank Ltd.
Action: Bulletin
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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