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S&P affirms AMP Bank
S&P said it affirmed its A long-term and A-1 short-term issuer and issue credit ratings on AMP Bank Ltd.
At the same time, the agency removed the issue and issuer ratings from CreditWatch, where they were placed with negative implications on May 2.
The outlook is stable.
The ratings on AMP Ltd. and AMP Group Holdings Ltd. remain on CreditWatch, where they were placed with negative implications.
“The affirmation and removal from CreditWatch placement comes off the back of our forecasted increase in AMP Bank's risk-adjusted capitalization,” S&P said in a news release.
“The increased capital will offset the potential for a downgrade of the bank in the event of a one-notch downgrade of AGHL.”
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