S&P moves AMP view to positive

S&P said it revised its outlooks for AMP Ltd., AMP Group Holdings Ltd. and AMP Bank Ltd. to positive from stable and affirmed all their ratings.

“A sale of the infrastructure equity and real estate businesses by the AMP group will provide a pathway for reshaping its strategy, in our view. The group could now strengthen its franchise in the wealth management business and stem the outflow of assets under management,” the agency said in a press release.

Once the sale is completed, AMP Bank will account for nearly 60% of group earnings. The agency said it also sees upside potential for the bank's stand-alone credit profile.

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