SYDNEY (S&P Global Ratings) Nov. 30, 2023--S&P Global Ratings has corrected its rating on Australia-based Westpac Banking Corp.'s A$1.9 billion floating-rate medium-term notes to 'AA-' from 'A-1+'. On November 29, we incorrectly assigned a short-term rating to these notes. The corrected rating reflects our understanding that the relevant market considers these notes as long-term debt and is in line with our long-term issuer credit rating on Westpac. General Criteria: Hybrid Capital: Methodology And Assumptions, March 2, 2022 Criteria Financial Institutions Banks: Banking Industry Country Risk Assessment Methodology And Assumptions, Dec. 9, 2021 Criteria Financial Institutions General: Financial Institutions Rating Methodology, Dec. 9, 2021 General Criteria: Environmental, Social, And Governance Principles In Credit Ratings, Oct. 10, 2021
