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Credit FAQ: Rating Australia's Mid-Size Regional Banks Under Standard & Poor's Revised Bank Criteria Jan 12
Standard & Poors, Jan 2012
Abstract
Standard & Poor's Ratings Services rates the three mid-size regional banks in Australia: Bank of Queensland Ltd. (BOQ, BBB/Stable/A-2), Bendigo and Adelaide Bank Ltd. (BEN, A-/Stable/A-2), and Suncorp-Metway Ltd. (Suncorp, A+/Stable/A-1). On Dec. 6, 2011, following our review of the ratings on these three banks under Standard & Poor's revised criteria for bank ratings, we affirmed our long-term 'A+' rating on Suncorp, lowered our long-term rating on BOQ to 'BBB' from 'BBB+', and raised our long-term rating on BEN to 'A-' from 'BBB+'. This FAQ provides further insight into our ratings on the above-mentioned three mid-size regional banks in Australia. The methodology for assessing the ICR is set out in the new criteria document, Banks: Rating Methodology And Assumptions, published...
Companies mentioned in this report are: Suncorp-Metway Ltd.,Bank of Queensland Ltd.,Bendigo and Adelaide Bank Ltd.
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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