Ratings affirmed
By Zhang Fengming |
May 21, 2010, Friday
|
Print Edition
Print Edition
FITCH Ratings yesterday affirmed the ratings of Australia & New Zealand Banking Group and its wholly owned New Zealand subsidiary ANZ National Bank Limited. The outlooks on the long-term issuer default rating for both entities have been revised to positive from stable.
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 improved financial profile, the rating firm said.
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 improved financial profile, the rating firm said.
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