Strong balance-sheet position after a capital injection and increase in provisioning Good market position and brand in its Australian home state of Queensland Weaker business franchise strength outside Queensland Our ratings on Bank of Queensland Ltd. (BoQ) reflect the anchor stand-alone credit profile (SACP) for a financial institution operating only in Australia; plus BoQ's "moderate" business position, "very strong" capital and earnings, "adequate" risk position, "below average" funding, and "adequate" liquidity. Our bank criteria use the Banking Industry Country Risk Assessment (BICRA) "economic risk" and "industry risk" scores to determine a bank's anchor SACP, the starting point in assigning an issuer credit rating. The anchor SACP for a bank operating only in Australia is 'a-'. The BICRA score is informed
