Bank of Queensland's business profile is drawing mixed reviews from credit ratings agencies. Moody's Investors Service said yesterday that it had cut the senior unsecured debt rating of BOQ to Baa1 from A3. The subordinated debt of the bank was downgraded to Baa2 from Baa1. Moody's affirmed the short-term rating at Prime-2.Only a month ago, Standard & Poor's lifted the long-term credit rating on Bank of Queensland to BBB+ from BBB, which means the credit ratings from the two firms now broadly correspond.Moody's yesterday cited the "structural earnings challenges faced by BOQ, in common with Australia's other regional banks" as one reason for the downgrade.The ratings agency also cited "the potential for ongoing pressure on asset quality, given the relatively weak state of the economy in south-east Queensland" and made reference to "the very depressed property market in the south-east of the state." The subdued state of the tourism industry also rated a mention.On the positive side, Moody's noted "the positive impact of actions by new management, who bring bank restructuring experience to BOQ."One action of the new management this year was the review of asset quality and provisions on many commercial loans, leading to a loss in the half year to February 2012.BOQ said yesterday that it had disposed of four of these problem loans (including the three largest) to Goldman Sachs. The loans have a face value of A$156 million.