S&P upgrades ANZ’s Tier 2 and AT1 instruments

Australia and New Zealand Banking Group Limited
9/833 Collins Street Docklands Victoria 3008 Australia
ABN 11 005 357 522
News Release
For Release: 3 April 2024

S&P Global Ratings upgrades ANZ’s
Tier 2 and Additional Tier 1 capital instruments

S&P Global Ratings (S&P) today upgraded by one-notch the following ratings on all the rated
Tier 2 and Additional Tier 1 capital instruments issued by Australia and New Zealand
Banking Group Limited (ANZBGL) and ANZ Bank New Zealand Limited (ANZ NZ):

ANZBGL
Rating To From
Tier 2 A- BBB+
Additional Tier 1 BBB BBB-

ANZ NZ
Rating To From
Tier 2 A A-
Additional Tier 1 BBB+ BBB

S&P has reaffirmed ANZBGL’s and ANZ NZ’s ‘Stable’ outlook.

The upgrade resulted from a one-notch increase in ANZBGL’s stand-alone credit profile
(SACP) to ‘a+’ from ‘a’. The improvement in ANZBGL’s SACP does not result in a change to
ANZBGL’s and ANZ NZ’s issuer credit rating and senior unsecured debt ratings of AA-.

Announcing the upgrade, S&P said that “The rating actions reflect continued strengthening
of institutional and governance standards in the Australian banking sector that have reduced
industrywide risks. Simplified business models and advances in risk management have also
contributed to this improvement.”

For further information on these rating actions, refer to S&P’s media release dated 2 April
2024.


For media enquiries contact:

Elizabeth Rudall
Head of Corporate Communications
+61 403 130 207


For analyst enquiries contact:

David Goode
Head of Debt Investor Relations
+61 410 495 399




Approved for distribution by ANZ Group’s Continuous Disclosure Committee