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Australian Fixed-Income Newsletter: Beyond The Curve Dec 06
Standard & Poors, Dec 2006
Abstract
Not widely reported last week was the takeover of Scottish Power Plc by the Spanish utility Iberdrola SA. Scottish Power has A$650 million of July 2011 bonds on issue in this market via its ring-fenced subsidiary, Scottish Power UK Plc. Mirvac Group, Tower, Wesfarmers, and AWB. Securitised Australian Mortgage Trust 2006-1. Publishing and Broadcasting Ltd., Adelaide Airport Ltd., Wellington International Airport Ltd., and AWB Ltd., and Origin Energy Ltd. The outlook for 2007 sees the credit environment of Australia and New Zealand being driven by a few key trends. November finished as the second-largest month for issuance volumes in the domestic corporate bond market in 2006. December is most unlikely to see higher volumes. Issuance amounted to A$8.6 billion, with...
Companies mentioned in this report are: American Express Credit Corp.,National Australia Bank Ltd.,Iberdrola S.A.,Scottish Power U.K. PLC,Wellington International Airport Ltd.,Powerco Ltd.,Wesfarmers Ltd.,TAL Ltd.,Publishing and Broadcasting Ltd.,Adelaide Airport Ltd.,Heritage Bank Ltd.,Origin Energy Ltd.,Scottish Power Ltd.,Sydney Airport Finance Co. Pty Ltd.,BNZ International Funding Ltd.,Max Trust,Mirvac Group,Securitised Australian Mortgage Trust 2006-1,WB Trust 2006-1
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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