(The following statement was released by the rating agency)
SYDNEY, September 14 (Fitch) Fitch Ratings has affirmed Westpac
Banking
Corporation's (WBC, AA-/Stable/F1+) AUD27.2bn of outstanding
mortgage covered
bonds at 'AAA'. The Outlook is Stable.
KEY RATING DRIVERS
The rating is based on WBC's Long-Term Issuer Default Rating
(IDR) of 'AA-', an
unchanged Discontinuity Cap (D-Cap) of 4 notches and the asset
percentage (AP)
of 89% used in the programme's asset coverage test, which Fitch
reli
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