Great Western Financial’s Debt Ratings Upgraded

Fitch Investors Service has upgraded Great Western Financial Corp.’s senior debt to A-minus from BBB plus, while its preferred stock ratings have been upgraded to BBB from BBB-minus.

Debt ratings of Great Western Bank, a unit of Great Western Financial, were also upgraded by the credit rating company, Fitch Investors Service.

The bank’s senior debt rating was upgraded to A from A-minus, while subordinated debt was upgraded to ‘A-’ from ‘BBB+’.

The rating service said the ratings reflect improved asset quality and stability in California’s real estate markets, as well as lower costs.