S&P affirmed Bendigo and Adelaide Bank's A rating
Standard & Poor's have affirmed Bendigo and Adelaide Bank and Rural Bank’s credit rating at A-. This rating was applied to the Bank and its wholly owned subsidiary by S&P in December last year.
Bendigo and Adelaide Bank Managing Director Mike Hirst said the Bendigo is one of few banks in the world to receive an upgrade since the onset of the Global Financial Crisis and this latest announcement means the Bank continues to be rated A by all three ratings agencies (S&P, Moody’s and Fitch).
“This continued vote of confidence is a testament to the way we have managed and continue to respond to the challenges currently faced by our industry,” Mr Hirst said.
“Our Bank continues to perform well, seek out new efficiencies and implement new initiatives and these efforts underpin the bank’s strong position.
“Our people are committed to strengthening our business and future prospects as we strive to be Australia’s leading customer-connected bank,” he said.