Revised S&P ratings outlook
Source: RNS800 Bourke Street
Docklands VIC 3008
AUSTRALIA
www.nabgroup.com
ASX Announcement
Wednesday, 8 April 2020
Revised S&P ratings outlook
National Australia Bank Limited (NAB) notes that S&P Global Ratings (S&P) has today revised its outlook for NAB's long-term issuer credit rating to negative from stable, reflecting a similar rating action on Australia (AAA/Negative/A-1+).
S&P confirmed its view that NAB is adequately placed to absorb the increased credit losses due to the COVID-19 outbreak and containment measures. Further, S&P noted that the fiscal and policy support from the Australian authorities, and an economic rebound towards the end of 2020 should help to limit credit losses.
S&P affirmed the 'AA-' long-term and 'A-1+' short-term issuer credit ratings for NAB. Ratings on debt issued by NAB also remains unchanged.
For further information:
Media
Jessica Forrest Sarika Thach
M: +61 (0) 457 536 958 M: +61 (0) 476 808 241
Investor Relations
Sally Mihell Natalie Coombe
M: +61 (0) 436 857 669 M: +61 (0) 477 327 540
Sarah Stokie
M: +61 (0) 477 721 489
The release of this announcement was authorised by the Disclosure Committee.
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