Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Suncorp rating downgraded

Staff Reporter 1 minute read

Suncorp will face higher funding costs after its banking operations were downgraded by Standard & Poor’s from A+ to A.

Advertisement
Advertisement
In a statement released to the ASX yesterday, Suncorp said the change was made after the ratings agency decided that its banking arm was no longer a “core” part of the Suncorp Group but rather a “strategically important member”.

Standard & Poor’s emphasised “the bank’s standalone creditworthiness has not diminished, with a good market position in Queensland, good asset quality and a sound earnings profile”.

 

Suncorp rating downgraded
default
TheAdviser logo
default

TODAY'S POLL

View results >

Who do you aggregate through?

Thank you for your vote, you can see the results here.

more from the adviser
mortgage choice 850 Major brokerage appoints new GM of distribution

Mortgage Choice has announced that Citi’s former head of bankin...

ANZ new still ta ANZ extends business loan terms

The major bank has announced that it will extend the maximum loan...

cash money rolls Credit growth stunted by dive in business lending

Credit growth has waned as a result of a sharp drop-off in busine...

FROM THE WEB