Sydney, 30 November 2025 – Fitch Ratings has affirmed and simultaneously withdrawn all credit ratings for Australia-based Auswide Bank Ltd (Auswide) following its reorganisation and acquisition by MyState Bank Limited (MSB). At the time of withdrawal, Auswide’s Long-Term Issuer Default Rating (IDR) was BBB+ with a Stable outlook.
The withdrawal reflects the voluntary transfer of Auswide’s assets and liabilities to MSB, which acquired the bank in February 2025. Fitch will no longer provide ratings or analytical coverage for Auswide.
Auswide’s Shareholder Support Rating (SSR) was affirmed at bbb, one notch below the parent MSB’s Long-Term IDR, reflecting its strategic importance within the MyState group. Fitch noted that the sale of Auswide, while unlikely, would not fundamentally alter MSB’s franchise.
Prior to withdrawal, Fitch had highlighted the following factors influencing Auswide’s standalone ratings:
- Business Profile: Positive adjustment due to business model.
- Asset Quality: Slightly weaker due to concentration risks.
- Capitalisation and Leverage: Moderately constrained by size of capital base.
- Funding and Liquidity: Slightly weaker due to deposit structure.
All ESG Relevance Scores associated with Auswide have also been withdrawn. Fitch emphasized that the ratings were based on established criteria and methodologies and reflected the bank’s integration into MSB.
Contacts for Fitch Ratings:
- Jack Do, Director: +61 2 8256 0355, [email protected]
- James Neale, Associate Director: +61 2 8256 0343, [email protected]
For more details, visit Fitch Ratings.