Fitch upgrades ANZ to positive
May 21, 2010
Australia and New Zealand Banking Group Limited (ANZ) confirmed that Fitch Ratings had revised the outlook on the group’s Longterm Issuer Default Rating to AA- Outlook Positive from AA- Outlook Stable.
In its statement on the outlook change Fitch 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.”
As at 1055 AEST, ANZ shares were down 57c to $20.06.
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