QT Mutual Bank said yesterday that it had received a long-term credit rating of BBB+ from Standard & Poor's. It is the first published credit rating for the bank (formerly known as Queensland Teachers Credit Union).
The short-term credit rating is A2 and the outlook is stable.
QT Mutual aims to be wholly funded from retail deposits, but will exploit the rating to more readily, and perhaps more cheaply, access short-term wholesale funding.
- QTMB secures rating
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17 July 2012 6:33am
