Overview of Moody's ratings methodology change impact on Bendigo and Adelaide Bank

On 6 March 2024, Bendigo and Adelaide Bank Limited (ASX: $BEN) received notification from Moody's regarding an anticipated alteration in its ratings methodology. The adjustment involves the implementation of Moody's Advanced Loss Given Failure framework, which is expected to affect BEN's ratings. Approximately 4% of BEN's total assets are supported by long-term senior unsecured debt, and the changes are projected to come into effect immediately.

Executive Commentary on Moody's Ratings Methodology Change

Moody's has informed us about the upcoming modification in their ratings methodology, introducing the Advanced Loss Given Failure framework. This change is significant for us as it will impact our ratings. Approximately 4% of our total assets are funded by long-term senior unsecured debt, and we anticipate the adjustments to take effect from today. We remain committed to our vision of being Australia's bank of choice, contributing to the prosperity of our customers and their communities.

Summary of Moody's Ratings Methodology Change Impact and Outlook

Bendigo and Adelaide Bank (ASX: $BEN) has been notified by Moody's about the forthcoming alteration in ratings methodology, involving the implementation of the Advanced Loss Given Failure framework. This adjustment is expected to have an impact on BEN's ratings, with approximately 4% of its total assets being supported by long-term senior unsecured debt. The changes are projected to take effect immediately. Despite this, the bank remains steadfast in its commitment to being Australia's bank of choice and contributing to the prosperity of its customers and their communities.