S&P Places BOQ on Credit Watch Positive
BOQ has welcomed Standard and Poor’s decision to place BOQ’s long-term rating on Credit Watch Positive following an update of its assessment of BOQ’s capital and earnings.
In an announcement today, S&P stated “We consider that our assessment of Bank of Queensland’s future capitalisation and earnings may support a higher rating.”
BOQ Managing Director and CEO Stuart Grimshaw said he welcomed S&P’s decision so soon after it downgraded the Bank’s rating to BBB in November last year.
“BOQ has always maintained confidence in its position as a well capitalised Australian Bank with a strong funding and liquidity position.
“I welcome S&P announcing its commitment to reassess our capital management initiatives and earnings position,” he said.
S&P expects to resolve the CreditWatch within the next 90 days.