S&P Global Ratings withdrew all its issuer and program credit ratings on Australia-based Rural Bank Ltd.

The rating agency said June 4 that this comes after the transfer of all of the lender's business undertakings to its parent Bendigo & Adelaide Bank Ltd., with effect from May 31.

Prior to the withdrawal, the ratings on Rural Bank were BBB+/A-2, with a stable outlook.

Descriptions of credit ratings in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings document referred to in this news brief can be found here.