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Fitch rethinks Suncorp Bank rating

02 May 2012 4:53PM
Fitch Ratings has lifted the long-term credit rating of Suncorp Bank to A+ from A, reversing a downgrade made only 10 months ago. This lifts the credit rating of the bank to that of the main insurance operating entities of the Suncorp group.Fitch said in its announcement that it opted for the upgrade following "more detailed discussions with management on the processes and resources available to the group to provide support."It said the new rating "reflects the willingness and ability of the Suncorp group to provide timely support [to the bank] if required."

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