UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

October 25, 2019

 

Commission File Number 1-10167

 

WESTPAC BANKING CORPORATION

(Translation of registrant’s name into English)

 

275 KENT STREET, SYDNEY, NEW SOUTH WALES 2000, AUSTRALIA

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F    x                Form 40-F    o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):    o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):    o

 

 

 


 

Index to Exhibits

 

Exhibit
No.

 

Description

 

 

 

1

 

ASX Release — S&P Global Ratings upgrades Westpac’s stand-alone credit profile and the rating on certain capital instruments

 

2


 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

 

WESTPAC BANKING CORPORATION

 

 

(Registrant)

 

 

 

 

 

 

 

 

Date:

October 25, 2019

By:

/s/ Yvette Adiguzel

 

 

 

Yvette Adiguzel

 

 

 

Tier 1 Attorney

 

3


Exhibit 1

 

 

ASX

 

Release

 

25 October 2019

 

S&P Global Ratings upgrades Westpac’s stand-alone credit profile and the rating on certain capital instruments

 

Following a regular review of its Banking Industry Country Risk Assessment, S&P Global Ratings (S&P) has today raised its Economic Risk assessment of Australia to 3 from 4. S&P indicated that the change reflects the orderly decline in house prices over the past two years following a period of rapid growth.

 

Following this change, S&P has upgraded Westpac’s stand-alone credit profile (and that of the other three major Australian banks) by one notch to ‘a’ from ‘a-’.

 

S&P has indicated that this change does not affect the senior debt rating of Westpac, which has been affirmed at AA-/A-1+/stable, but it increased the S&P rating on certain capital instruments issued by Westpac by one notch. Securities impacted include:

 

·                       Basel III compliant Tier 2 instruments to ‘BBB+’ from ‘BBB’.

 

·                       Basel III compliant Additional Tier 1 capital instruments to ‘BBB-’ from ‘BB+’.

 

Ends.

 

 

 

For Further Information

 

 

 

David Lording

Andrew Bowden

Head of Media Relations

Head of Investor Relations

 

T. 02 8253 4008

M. 0419 683 411

M. 0438 284 863