MELBOURNE (Standard&Poor's) Oct. 9, 2014--Standard&Poor's Ratings Services said today that its ratings on National Australia Bank Ltd. (NAB; AA-/Stable/A-1+) are unchanged following NAB's earnings adjustment announcement ahead of its 2014 full-year results. In the lead up to its full-year 2014 results--due for release by the bank on Oct. 30, 2014--NAB announced provisions and write-downs to the carrying value of several assets. These included: Additional U.K. conduct charges including provisions in relation to payment protection insurance (pretax £420 million) and interest rate hedging products (pretax £250 million); Impairment charges related to capitalized software of pretax A$297 million; A deferred tax asset provision of US$120 million; and An R&D tax policy change negatively impacting cash earnings by A$28
