(Repeats to additional clients) (The following statement was released by the rating agency)
SYDNEY, May 15 (Fitch) Fitch Ratings has affirmed the ratings of Australia’s four major banking groups: Australia and New Zealand Banking Group Limited (ANZ); Commonwealth Bank of Australia (CBA); National Australia Bank Limited (NAB); and Westpac Banking Corporation (WBC).
The Outlook on each bank’s Long-Term Issuer Default Rating (IDR) is Stable. A full list of rating actions can be found at the end of this commentary.
The rating review focuses on the Australian-domiciled entities within each group and therefore does not encompass their overseas subsidiaries.
The ratings of each bank’s covered bond programme and covered bond issuance is unaffected by this review.