MELBOURNE (Standard&Poor's) Nov. 15, 2013--Standard&Poor's Ratings Services today assigned its 'BBB+' long-term rating to the subordinated notes component of Australia and New Zealand Banking Group Ltd.'s (ANZ; AA-/Stable/A-1+) US$25 billion medium-term notes (MTN) program. At the same time, we also withdrew our 'A-' rating on the "old style" subordinated notes component of the MTN program. We note that the long-term 'AA-' rating on ANZ's senior unsecured notes and the long-term 'A-' rating on the subordinated notes that have already been issued and are currently outstanding under the MTN program are unchanged. This rating action reflects an update of program documentation by ANZ that allows it in the future to issue subordinated notes that will incorporate a
