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The announcement follows news earlier this week that Auswide had withdrawn Standard and Poor’s issuer rating.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