(Editor's note: In the press release sent out earlier, on National Australia Bank, it was incorrectly stated that a single-'A' long-term foreign currency rating was assigned to US$500 million in income securities. A corrected version follows.) MELBOURNE(Standard&Poor's CreditWire) May 12, 1999-- Standard&Poor's today assigned its single-'A' long-term local currency rating to A$500 million in income securities issued by National Australia Bank Ltd. (National, rated AA/Stable/A-1+) under its National Income Securities issue. Oversubscriptions are permitted under program documentation. The rating differential between this issue and National's double-'A' long-term counterparty credit rating reflects the equity-like characteristics and junior status of the securities. Subject to a regulatory capital and a distributable profits test, interest on the securities is payable
