Bank of Queensland upgraded

S&P has upgraded the long term rating on Bank of Queensland. The rating upgrade reflects S&P's expectation that BoQ will maintain a risk-adjusted capital (RAC) ratio above 15% over the medium-to-long term. "The rating action also reflects our expectation of earnings as being supportive of BoQ's ability to maintain a higher, more permanent capital position, taking into account our view that asset-quality problems have been largely addressed through adequate provisioning and that BoQ's future asset-quality position will stabilise."