Moody's has upgraded several ratings for Westpac Banking Corporation, including its long-term issuer rating.
The changes, which were announced today, saw Westpac's adjusted baseline credit assessment, long-term issuer rating, and senior unsecured debt rating all receive upgrades.
However, there was no change to Moody's ratings for the bank's short-term debt.
The ratings actions were a result of Moody's application of its Advanced Loss Given Failure analysis to banks that are subject to operational resolution regimes.
Westpac's long-term bank deposits in both local and foreign currency also received higher ratings.
The bank's ratings outlook remains stable.
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