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S&P affirms, withdraws ratings of Auswide Bank

S&P Global Ratings revised its outlook on Auswide Bank Ltd. to stable from positive and affirmed its ratings before withdrawing the ratings at the issuer's request.

The rating agency said it affirmed the BBB-/A-3 issuer credit ratings of the bank prior to withdrawal. The outlook revision reflects a reduced likelihood that the bank will take capital initiatives to improve its risk-adjusted capital ratio to a level considered at par with a higher rating, S&P added.

S&P Global Market Intelligence and S&P Global Ratings are owned by S&P Global Inc.