Briefs: Moody's assigns maiden ratings for MyState Bank, shareholder prunes AFG exposure
Moody's has assigned investment grade credit ratings for Tasmania's largest financial institution, MyState Bank. The agency has assigned the bank a maiden long-term rating of Baa1 and a short-term rating of P2. Moody's noted that MyState's long term rating was supported by very strong asset quality and conservative underwriting. Janus Henderson Group, one of the largest investors on the share register of Australia's largest mortgage aggregator, AFG, has sliced its exposure to the company. In a disclosure made to the ASX on Tuesday, Janus Henderson said it had offloaded around 2.7 million shares in the Perth-based company. Janus Henderson has been a consistent seller of AFG scrip since the start of July when it held 6.36 per cent of the company. It now holds a five per cent interest.