Moody's assigns ANZ Banking notes A3

Moody's Investors Service said it assigned an A3 (hyb) rating to the proposed subordinated notes with contractual point of non-viability (PONV) loss absorption features issued by the Australia and New Zealand Banking Group Ltd. (ANZ; Aa2 stable, B-/a1 stable).

The notes mature in March 2024.

The outlook on the notes is stable, in line with the stable outlook for the bank.

Moody's said the A3 (hyb) rating assigned to the notes is positioned two notches below ANZ's standalone credit assessment, in line with the agency's standard notching guidance for subordinated debt with loss triggered at the point of non-viability on a contractual basis.

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