MELBOURNE (Standard&Poor's) Aug. 15, 2003--Standard&Poor's Ratings Services said today that it has affirmed its counterparty credit ratings on Bank of Queensland Ltd. (BOQ; BBB/Stable/A-2) and related debt ratings following the bank's announcement to acquire UFJ Finance Ltd. (UFJ Finance). "Affirmation of BOQ's ratings implies that the bank will manage satisfactorily its acquisition risks, given the material size of UFJ Finance relative to BOQ," said credit analyst Peter Sikora, director, Financial Services Ratings. Included in the acquisition price is about A$12 million in goodwill and capitalized acquisition costs. UFJ Finance is the Brisbane-based finance leasing subsidiary of UFJ Australia Ltd. (BBB/Negative/A-3). "The acquisition of UFJ Finance will provide BOQ with increased income and geographic diversity, and fits
