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BankWest Rtgs Stay On Watch Pos, May Be Raised To 'AA' Pending Further Regulatory Approvals Dec 08
Standard & Poors, Dec 2008
Abstract
MELBOURNE (Standard & Poor's) Dec. 12, 2008--Standard & Poor's Ratings Services said today that the ratings on the Bank of Western Australia Ltd. (BankWest; A+/A-1) remain on CreditWatch with positive implications, where they were initially placed on Oct. 8, 2008 after the announcement of the acquisition of BankWest by Commonwealth Bank of Australia (CBA; AA/Stable/A-1). The BankWest ratings may be raised to 'AA/A-1+' from 'A+/A-1' when all regulatory approvals for the acquisition have been obtained. This potential upgrade reflects Standard & Poor's opinion that BankWest is likely to be a core subsidiary of CBA if the acquisition is completed. Consequently, the ratings and outlook on BankWest would be equalized with those on CBA. The acquisition has been approved by the...
Companies mentioned in this report are: Bank of Western Australia Ltd.,Commonwealth Bank of Australia
Action: CreditWatch Update
Action: On CreditWatch:Positive
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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