(The following was released by the rating agency)
SYDNEY (Standard & Poor's) Oct. 5, 2012--Standard & Poor's Rating Services said today that it has affirmed and then withdrawn its AA-/Stable/A-1+ issuer credit ratings on Bank of Western Australia Ltd.
The ratings were withdrawn at the request of Commonwealth Bank of Australia (AA-/Stable/A-1), Bank of Western Australia's parent company, after confirmation that all of Bank of Western Australia's obligations have been assumed by Commonwealth Bank of Australia, and that Bank of Western Australia Ltd. ceased to exist as a legal entity on Oct. 1, 2012.
There is no impact on the ratings on Commonwealth Bank of Australia, as we have been factoring the consolidation of Bank of Western Australia into the Commonwealth Bank of Australia rating since late 2008.
Keywords: MARKETS RATINGS BANKOFWESTAUSTRALIA