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S&P Global Ratings affirmed the issuer ratings of ING Bank (Australia) Ltd. at A-/A-2, with a stable outlook.
The rating agency said July 11 that it also affirmed the bank's stand-alone credit profile at "bbb+." The ratings reflect S&P's view that the bank is a highly strategic subsidiary of its Netherlands-based parent, ING Bank NV.
The affirmation comes after S&P in May lowered the Australian bank's outlook to stable from...