Moody’s affirms Suncorp ratings, raises credit assessment

Moody’s has raised Suncorp-Metway’s baseline credit assessment to baa1 from baa2 and affirmed all the other credit ratings of the Suncorp Group Limited subsidiary. The outlook for all ratings is stable. Moody’s says the decision is based on Suncorp’s stronger balance sheet, which is the result of fewer non-performing loans, higher capital levels and less reliance on wholesale funding.

read full story