ASX listed MyState Bank, formerly MyState Financial, has announced Standard & Poor’s has affirmed the bank’s BBB rating and upgraded its outlook from stable to positive. Standard & Poor’s view of MyState’s improved asset quality was behind the improved outlook.
MyState Managing Director Melos Sulicich said, “Credit quality remains the cornerstone of our business as we continue to diversify our asset base.” The bank was pleased by the rating agency’s change and it would continue to “prudently” increase its loan book.
MyState has two banking brands; the Tasmanian-based MyState Bank and the Rockhampton-based The Rock. Its last foray into domestic bond markets was in August when it issued Tier 2 Basel 3 compliant subordinated bonds.