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Published on 2/9/2021 in the Prospect News Green Finance Daily and Prospect News Investment Grade Daily.

Fitch rates National Australia notes BBB

Fitch Ratings said it assigned a BBB rating to National Australia Bank Ltd.’s A$600 million floating-rating additional tier 1 notes due July 17, 2027.

The notes are rated four notches below its viability rating, two notches for non-performance risk, and two notches for loss severity, consistent with the base case in Fitch’s bank rating criteria. None of the reasons for an alternative notching outlined in the criteria are present, the agency said.


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