The BBB+/Stable/A-2 credit ratings on the Bank of Queensland (BoQ) reflect the bank's strong market position in the growing Queensland market, increasing national footprint, and its maintenance of good credit standards. BoQ provides various products including retail as well as commercial banking and lending products. Based in the Australian state of Queensland, the bank also has a presence in the equipment and debtor finance space. The bank has shown an increased acquisitive growth appetite in recent years. While this will improve its overall scale and earnings diversity, it does come with increased integration risk and requires greater management attention. BoQ, however, has successfully integrated Pioneer Permanent Building Society Ltd. (acquired in 2006), which further strengthened its position in its home
