Research Update: ME Bank Upgraded To 'BBB+' On Completed Acquisition By BoQ, Off Watch Positive; BoQ Ratings Affirmed; Outlooks Positive - S&P Global Ratings’ Credit Research

Research Update: ME Bank Upgraded To 'BBB+' On Completed Acquisition By BoQ, Off Watch Positive; BoQ Ratings Affirmed; Outlooks Positive

Research Update: ME Bank Upgraded To 'BBB+' On Completed Acquisition By BoQ, Off Watch Positive; BoQ Ratings Affirmed; Outlooks Positive - S&P Global Ratings’ Credit Research
Research Update: ME Bank Upgraded To 'BBB+' On Completed Acquisition By BoQ, Off Watch Positive; BoQ Ratings Affirmed; Outlooks Positive
Published Jul 01, 2021
5 pages (2223 words) — Published Jul 01, 2021
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Australia-based Bank of Queensland Ltd. (BoQ) has completed its acquisition of Members Equity Bank Ltd. (ME Bank). We believe BoQ will support ME Bank in all foreseeable circumstances, if required. We are raising our long-term ratings on ME Bank to 'BBB+' and removing them from CreditWatch with positive implications. We equalize the ratings on ME Bank with those on BoQ. We are affirming our ratings on BoQ at 'BBB+/A-2' as the acquisition does not meaningfully change BoQ's credit profile, in our view. The outlook on both entities is positive, reflecting easing systemwide funding risks. On July 1, 2021, S&P Global Ratings raised its long-term ratings on Members Equity Bank Ltd. (ME Bank) to 'BBB+' from 'BBB', and removed the ratings

  
Brief Excerpt:

...- Australia-based Bank of Queensland Ltd. (BoQ) has completed its acquisition of Members Equity Bank Ltd. (ME Bank). - We believe BoQ will support ME Bank in all foreseeable circumstances, if required. - We are raising our long-term ratings on ME Bank to '###+' and removing them from CreditWatch with positive implications. We equalize the ratings on ME Bank with those on BoQ. - We are affirming our ratings on BoQ at '###+/A-2' as the acquisition does not meaningfully change BoQ's credit profile, in our view. - The outlook on both entities is positive, reflecting easing systemwide funding risks....

  
Report Type:

Research Update

Ticker
BQD@AU
Issuer
Bank of Queensland Ltd.
GICS
Regional Banks (40101015)
Sector
Global Issuers, Structured Finance
Country
Australia
Region
Pacific
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: ME Bank Upgraded To 'BBB+' On Completed Acquisition By BoQ, Off Watch Positive; BoQ Ratings Affirmed; Outlooks Positive" Jul 01, 2021. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-ME-Bank-Upgraded-To-BBB-On-Completed-Acquisition-By-BoQ-Off-Watch-Positive-BoQ-Ratings-Affirmed-Outlooks-Positive-2682018>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: ME Bank Upgraded To 'BBB+' On Completed Acquisition By BoQ, Off Watch Positive; BoQ Ratings Affirmed; Outlooks Positive Jul 01, 2021. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-ME-Bank-Upgraded-To-BBB-On-Completed-Acquisition-By-BoQ-Off-Watch-Positive-BoQ-Ratings-Affirmed-Outlooks-Positive-2682018>
  
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