DBRS confirms Australia and New Zealand Banking

DBRS said it confirmed Australia and New Zealand Banking Group Ltd.'s deposits and senior debt at AA, subordinated debt at AA (low), commercial paper at R-1 (high) and Australian government-guaranteed long-term debt at AAA.

All trends are stable.

The agency said the ratings and trends of the non-guaranteed debt of the group remain supported by its strong banking franchises in Australia and New Zealand and solid financial risk profile. While the group was not unaffected by the global market turmoil and resulting economic downturn, it and the rest of the Australian banking industry generally remained in good shape, DBRS said.

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