Media Release
For Release: 3 March 2010
ANZ comments on Moody''s ratings following methodology changes
ANZ today confirmed that consistent with its announcement of 19 November
2009, Moody''s Investors Service (Moody''s) has downgraded a range of Tier-1
and Upper Tier-2 securities, including some securities issued by ANZ and ANZ
National Bank Limited (see attached list) along with other domestic peer
banks.
An announcement by Moody''s today confirmed sector wide methodology changes
for rating hybrid securities and subordinated debt issued by banks globally.
This was first flagged by Moody''s late last year following a period of
industry consultation commencing in June 2009.
The downgrades are, three notches for the Tier-1 securities, and one notch
for one of the Upper Tier-2 securities as described in the attached list.
ANZ and ANZ National Bank Limited''s deposit, senior debt, and Lower Tier-2
subordinated debt ratings are not impacted.
Moody''s Guidelines for Rating Bank Hybrid Securities and Subordinated Debt
are available on moodys.com.
For media enquiries contact:
Paul Edwards
Group GM Corporate Communications
Tel: 03-9273 6955 or 0434-070 101
Email: Paul.Edwards@anz.com Stephen Ries
Senior Manager Media Relations
Tel: 03-8654 3659 or 0409-655 551
Email: Stephen.Ries@anz.com
Issuer Name Security description Currency Face Amount
(millions) ISIN
Original Moody''s Rating
New Moody''s Rating
Tier 1 hybrid securities
ANZ Capital Trust II Non-cumulative Trust Securities("US Stapled Trust
Securities") USD 750 US001822AB19
Aa3
A3
ANZ Capital Trust III Non-cumulative Trust Securities ("Euro Trust
Securities") Euro 500 XS0207513127
Aa3
A3
Australia and New Zealand Banking Group Limited Non-cumulative mandatory
convertible stapled securities ("UK Stapled Securities") GBP 450
XS0304110132
Aa3
A3
Australia and New Zealand Banking Group Limited Convertible Preference Shares
("ANZ Convertible Preference Shares 2008") AUD 1,081
AU0000ANZPB7
Aa3
A3
Upper Tier 2 securities
Australia and New Zealand Banking Group Limited Perpetual capital
subordinated notes USD 300 GB0040024555
Aa3
Aa3
ANZ National Bank Ltd Perpetual callable subordinated bonds NZD 835
NZANBD0006S7
Aa3
A1
End CA:00192067 For:ANZ Type:GENERAL Time:2010-03-04:08:31:03