...- In our view, the economic risks facing banks operating in Australia have reduced, reflecting the orderly decline in national house prices over the past two years following a period of rapid growth. - We expect that NAB will now maintain its risk-adjusted capital ratio between 10.5% and 11.0% over the next two years, at a stronger level than our previous expectations. Consequently, we have revised our SACP on NAB to 'a' from 'a-'. - We are raising our ratings on each of the rated regulatory tier 1 and tier 2 hybrid instruments issued by NAB group entities by one notch reflecting the stronger SACP of the group. - We are affirming our '##-/A-1+' issuer credit ratings and ratings on senior debt issued by NAB, reflecting our view that the likelihood of financial support from the Australian government remains unchanged. - The stable outlook reflects our expectation that NAB will maintain solid operating performance, low credit losses, and strong capital levels in the next two years....
