Auswide Bank receives BBB+/F2 credit rating from Fitch

Company News

by Jessica Ellerm

Auswide Bank (ASX:ABA) has announced has received a first time BBB+ long term credit rating with a stable outlook from Fitch Ratings.

Managing Director Martin Barrett has indicated this rating is testament to the strength of the bank, including robust capital, strong risk management processes and sound asset quality.

The announcement follows news earlier this week that Auswide had withdrawn Standard and Poor’s issuer rating.

The bank indicated the decision to remove Standard and Poor followed a review of its current ratings agency service requirements and future funding plans.

Auswide Bank (ASX:ABA) is trading 0.58 per cent lower at $5.18


Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.