MELBOURNE (S&P Global Ratings) May 6, 2016--S&P Global Ratings today said it has assigned its 'BBB' long-term issue credit rating to the subordinated notes component of Bank of Queensland Ltd.'s (BoQ; A-/Stable/A-2) A$6 billion debt instrument program (DIP). At the same time, we also withdrew our 'BBB+' rating on the "old style" subordinated notes component of the DIP. We note that the long-term 'A-' issue credit rating on BoQ's senior unsecured notes and the long-term 'BBB+' issue credit rating on the subordinated notes that have already been issued and are currently outstanding under the DIP are unchanged. We further note that BoQ has exercised the call to repay its A$200 million "old style" subordinated notes on May 10, 2016. This
