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MYSTATE LIMITED — Capital/Financing Update 2022
Dec 1, 2022
65395_rns_2022-12-01_efa2a9d7-d20d-4472-a06a-8fc7aac9e592.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
Friday 2 December 2022
ASX: MYS
Fitch Ratings affirms issuer credit rating for MyState Limited and MyState Bank Limited as BBB+
Friday 2 December 2022 – MyState Limited (ASX: MYS) today announced that Fitch Ratings (Fitch) has affirmed the issuer credit rating of ‘BBB+/F2’ (long-term/short-term) for MyState Limited and its wholly owned subsidiary MyState Bank Limited. The ratings were affirmed with a stable outlook.
In its rating agency commentary, Fitch noted that the assigned issuer credit ratings ‘reflects profitability metrics higher than peers as well as strong, stable asset quality. MYS has a focus on traditional banking, in particular low risk mortgages, resulting in good asset quality and modest earnings volatility’.
MyState Limited’s Managing Director, Brett Morgan, said “Fitch’s confirmation that MyState Limited and MyState Bank Limited’s issuer ratings remained unchanged at BBB+, following their annual review process, confirms our strategy of growing in lower risk segments of the home loan market will not come at the expense of credit quality and other underlying profitability metrics.”
“The Fitch investment grade issuer credit rating continues to provide support for our growth strategy and the very strong and broad investor support for our wholesale funding programs.”
Authorised
Brett Morgan Managing Director and Chief Executive Officer
About MyState Limited
Registered Office: 137 Harrington Street, Hobart 7000
MyState Limited (ABN 26 133 623 962) is the ASX-listed (MYS) non-operating holding company of the diversified financial services Group consisting of MyState Bank and TPT Wealth, a trustee and wealth management company. MyState Bank is regulated by the Australian Prudential Regulatory Authority. MyState Bank and TPT Wealth hold Australian Financial Services Licences issued by the Australian Securities and Investments Commission.
Investor relations Adrian Mulcahy [email protected] +61 438 630 422
Media relations Janelle Whittle [email protected] +61 418 173 954