The long-term issuer credit rating on Bank of Queensland Ltd. (BoQ) has been raised to 'BBB+' from 'BBB', and removed from CreditWatch with positive implications. The short-term issuer credit rating is affirmed at 'A-2'. The rating upgrade reflects a capital injection of A$450 million finalised in May 2012 and increased comfort around BoQ's future asset-quality position, particularly the reduced likelihood that material new loan loss provisions will be required against nonperforming loans. The outlook is stable. On June 8, 2012, Standard&Poor's Ratings Services raised its long-term issuer credit rating on Australian-based Bank of Queensland (BoQ) to 'BBB+' from 'BBB'. At the same time, we removed the ratings from CreditWatch, where they were placed with positive implications on Feb.
