MELBOURNE (Standard&Poor's) Nov. 8, 2006--Standard&Poor's Rating Services said today that it had placed its 'AA-' credit ratings on Australia and New Zealand Banking Group Ltd., Commonwealth Bank of Australia, National Australia Bank Ltd., and Westpac Banking Corp. on CreditWatch with positive implications. In addition, the ratings on the related entities of the four banks have been similarly placed. "A progressive strengthening of the financial profiles of the major banks have contributed to the CreditWatch placements," said Standard&Poor's credit analyst Craig Bennett, Financial Services Ratings. Each of the four major banks has announced a continued strong earnings momentum, as reflected in the recent financial results. The major banks' financial profiles have benefited from a number
