Fitch upgrades ratings for Westpac Banking Corporation

ASX
Release

27 May 2024

Fitch Ratings (Fitch) upgrades ratings for Westpac Banking Corporation
(Westpac)
Today Fitch upgraded Westpac’s Long-Term Issuer Default Rating (IDR) by one notch
to 'AA-'. The outlook is stable. Fitch also upgraded Westpac’s Short-Term IDR by one
notch to 'F1+'.
The upgrade to Westpac’s Long-Term IDR reflects the build-up of buffers by the bank
through existing capital instruments to meet APRA’s loss-absorbing capacity
requirements.
There has been no change to Westpac’s Viability Rating of ‘a+’ or the Government
Support Rating of ‘a’. There is also no change to the ratings assigned by Fitch to
Westpac’s rated Tier 2 capital instruments.

For further information:

Hayden Cooper Jacqueline Boddy
Group Head of Media Relations Head of Debt Investor Relations
0402 393 619 0448 064 012

This document has been authorised for release by Tim Hartin, Company Secretary.
Level 18, 275 Kent Street
Sydney, NSW, 2000