|Short Term||Prime - 1||A-1+||F1 ^||Prime -1||A-1+||F1 ^
|Long Term||Aa3||AA-||A+ ^
~ On 15 February 2019, Fitch revised the rating outlook for NAB from stable to negative. BNZ's rating outlook was also revised to negative on 21 February 2019.
* On 19 June 2017, Moody’s revised its Australian Macro Profile to “Strong plus” from “Very Strong negative”. As a result, Moody’s downgraded the long term ratings of the major Australian banks, including NAB, to Aa3 from Aa2 and the outlook was revised to stable from negative. NAB’s hybrid and subordinated debt, BNZ’s long term rating and BNZ’s subordinated debt were also lowered one notch. There was no change to the short term rating. NAB's ASX release on 20 June 2017 can be found on the following link.
On 24 October 2019, S&P raised their assessment of the Stand Alone Credit Profiles (SACP) of NAB and the other major Australian banks by one notch. As a result, the S&P rating of NAB’s hybrid subordinated debt was increased by one notch. There was no change to NAB and BNZ’s long term, short term and rating outlook. NAB's ASX release on 25 October can be found on the following link.
^ On 07 April 2020, Fitch revised its rating of Australian major banks and a range of their strategically important subsidiaries long term ratings from AA- to A+, and short term rating from F1+ to F1. This included an rating revision of NAB and BNZ.
# On 08 April 2020, S&P Global Ratings (S&P) revised its rating outlook of Australian major banks and a range of their strategically important subsidiaries from stable to negative. This included an outlook revision of NAB and BNZ. S&P affirmed NAB's AA- long term and A-1+ short term ratings and BNZ's AA- long term and A-1+ short term ratings.