ANZ’s outlook positive
(24 May 2010 – Australia) Australia and New Zealand Banking Group has had its Long-term Issuer Default Rating (IDR) upgraded to AA- Outlook Positive.
The new rating has been revised from AA- Outlook stable, with the credit agency saying that if all the bank’s Asia expansion plans are executed soundly that the bank could in fact have its rating lifted from AA-minus.
In a statement Fitch said that the ratings of ANZ, including the change in Outlook, take into account the Group’s improved earnings diversity following the full acquisition of its wealth management operations, the potential diversification benefits provided by the Asian expansion strategy and its generally improving financial profile.
In a statement Fitch said that the ratings of ANZ, including the change in Outlook, take into account the Group’s improved earnings diversity following the full acquisition of its wealth management operations, the potential diversification benefits provided by the Asian expansion strategy and its generally improving financial profile.
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