S&P trims AMP Bank rating

S&P said it lowered its ratings on AMP Bank Ltd. to BBB+ on the downgrade of AMP Ltd.

The agency removed the bank’s ratings from CreditWatch with negative implications.

“The outlook on AMP Bank is negative, reflecting our view that there is a one-in-three chance that a weakening of the group's creditworthiness could result in a reduced level of external support being provided to the bank from both its parents,” said S&P in a press release.

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