Fitch: ANZ view to positive

Fitch Ratings said it affirmed Australia & New Zealand Banking Group's long-term foreign-currency issuer default rating at AA, short-term foreign-currency issuer default rating at F1+, Australian dollar-denominated government guaranteed senior debt at AAA, non-Australia-dollar denominated government guaranteed senior debt at AA+, senior unsecured long-term debt at AA- and subordinated debt at A+.

The agency also said it affirmed wholly-owned subsidiary, ANZ National Bank Ltd.'s long-term foreign-currency issuer default rating at AA-, short-term foreign-currency issuer default rating at F1+, long-term local-currency issuer default rating at AA-, short-term local-currency issuer default rating at F1+, non-New Zealand dollar-denominated government guaranteed senior debt at AA+ and senior unsecured debt at AA-.

The outlook was revised to positive from stable.

The ratings take into account the group's improved earnings diversity following the full acquisition of its wealth management operations, the potential diversification benefits provided by the Asian expansion strategy and its generally improved financial profile, Fitch said.

Expansion into developing markets also presents risks in the form of less robust legal, political and regulatory frameworks, the agency added. Fitch said it will monitor the impact of organic and acquired growth.

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