Moody's upgrades BEN's long-term credit rating by one notch
Key points
- Bendigo and Adelaide Bank's long-term issuer credit rating upgraded to A3 from Baa1
- Upgrade reflects BEN's very strong asset quality, funding profile and liquidity
- Short-term rating remains P-2, subordinated debt rating upgraded to Baa1
Full summary
Moody's Ratings has announced an upgrade in Bendigo and Adelaide Bank Limited's (BEN) long-term issuer credit ratings. BEN's long-term issuer rating has been upgraded to A3 from Baa1, while its short-term rating remains at P-2. The subordinated debt rating has also been upgraded to Baa1 from Baa2. Moody's advised that the upgrades reflect BEN's very strong asset quality, very strong funding profile and strong liquidity. The rating changes are expected to take effect from today. Bendigo and Adelaide Bank Limited is a major Australian bank and financial services provider, headquartered in Bendigo, Victoria.
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