AI assistant
MYSTATE LIMITED — Capital/Financing Update 2017
Oct 16, 2017
65395_rns_2017-10-16_04805a9b-8cc5-4ecb-ad9a-dc56587db115.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [207 x 72] intentionally omitted <==
ASX/media release
17 October 2017
MyState Bank receives Moody’s Credit Rating of Baa1/P2
Hobart, Tuesday 17 October 2017: MyState Limited (ASX:MYS), the banking and wealth management group, announced that its wholly-owned subsidiary MyState Bank has received an investment grade rating of ‘Baa1/P2’ (long term/short term) with a stable outlook from Moody’s Investor Services (Moody’s). This is the first rating Moody’s has assigned to MyState.
In its report, Moody’s noted that “MyState Bank’s Baa1 rating is supported by its very strong asset quality and conservative underwriting.” Moody’s rating also highlighted the bank’s geographic diversification of the loan portfolio and an expectation that the bank’s capital will remain at healthy levels.
Melos Sulicich, MyState Limited’s Chief Executive Officer and Managing Director, said: “Moody’s rating of MyState Bank as Baa1 is a testament to our strategy of growing in high quality, lower risk lending, our contemporary risk management systems and processes and the strength of our capital management strategy.
“Moody’s assigned investment grade issuer credit rating provides additional support for our growth strategy and further opportunity for MyState to build on the very strong and broad investor support for our wholesale funding programs.”
ENDS
About MyState Limited
MyState Limited is the ASX-listed non-operating holding company of the diversified financial services Group consisting of MyState Bank (including The Rock – A division of MyState Bank) and Tasmanian Perpetual Trustees, a trustee and wealth management company. MyState Bank is regulated by the Australian Prudential Regulatory Authority. MyState Bank and Tasmanian Perpetual Trustees hold Australian Financial Services Licences issued by the Australian Securities and Investments Commission.
Investor Enquiries
David Harradine, Chief Financial Officer, MyState Limited, 0414 258 540 and [email protected]
Media Enquiries
Chris Thornton, General Manager, Product and Marketing, MyState Limited, 0403 940 537 and [email protected]
Ashley Rambukwella, Financial & Corporate Relations, 0407 231 282 and [email protected]