Westpac Banking Corp (WBC.AX)
23 May 2017
* updated market on new major bank budget deficit repair levy ('levy') announced in 2017 federal budget
* Refinanced group's secured debt facility with Westpac Banking Corporation
(The following statement was released by the rating agency) SYDNEY, May 17 (Fitch) Fitch Ratings has assigned Westpac Banking Corporation's (WBC, AA-/Stable/F1+) Series 2017-C1 EUR1 billion and 2017-C2 EUR500 million fixed-rate mortgage covered bonds ratings of 'AAA'. The Outlook is Stable. This brings the total outstanding issuance of covered bonds under the programme to AUD24.85 billion. Series 2017-C1 is due in May 2024, while Series 2017-C2 is due in May 2032. Both the bonds benefit from a 1
* Liabilities subject to levy will include items such as corporate bonds, commercial paper, certificates of deposit, tier 2 capital instruments
* Industry also faces increased compliance and capital costs (Recasts, adds CEO and analyst comments)
* HY reported net interest margin decreased 4 basis points to 2.05%
May 8 Australia's No.2 lender Westpac Banking Corp said first-half cash profit rose 3 percent benefiting from improved credit quality and robust performance in markets business.
(The following statement was released by the rating agency) SYDNEY, April 28 (Fitch) Fitch Ratings has affirmed Westpac Banking Corporation's (WBC, AA-/Stable/F1+) AUD22.6 billion of outstanding mortgage covered bonds at 'AAA'. The Outlook is Stable. The affirmation follows the top-up of the cover pool by AUD14.3 billion of mortgages, which takes the total balance of the pool to AUD32.6 billion. KEY RATING DRIVERS The rating is based on WBC's Long-Term Issuer Default Rating (IDR) of 'AA-', an ID
March 21 Australian shares were tepid on Tuesday, taking their cue from Wall Street, which fell on concerns that President Donald Trump's promises of tax cuts will take longer than expected.
SYDNEY, March 17 Australia's Westpac Banking Corp said on Friday it will raise mortgage rates across a range of products including for owner occupiers, a day after rival National Australia Bank made a similar move.