Westpac Credit Profile Upgraded by S&P

Westpac Banking Corporation (AU:WBC) has released an update.

S&P Global Ratings has upgraded the stand-alone credit profile of Westpac Banking Corporation and its New Zealand counterpart, reflecting a decrease in industry-wide risks for Australian banks. This upgrade has also positively impacted Westpac’s Additional Tier 1 and Tier 2 capital instruments, along with Westpac New Zealand Limited’s Tier 2 capital instruments. Both entities maintain a stable ratings outlook despite these changes.

For further insights into AU:WBC stock, check out TipRanks’ Stock Analysis page.