Bank of Queensland Limited
(ASX:BOQ) has had its long-term issuer credit rating upgraded by Standard & Poor’s to A- from BBB+.
The bank says it is the first time it has held an A category long-term credit rating.
The bank's short-term rating was affirmed at A-2 with a stable outlook.
Chief executive officer Stuart Grimshaw says the upgrade followed nearly two years of work to rebuild the bank's business fundamentals and set a foundation for growth.
BOQ delivered a net profit of $100.5 million in the first half of fiscal 2013.
