Rabobank Australia Ltd. Aug 10

Standard & Poors, August 2010

Abstract
Unconditional guarantee from the ultimate parent bank, Rabobank Nederland Strong market position and franchise in the agriculture sector Integration with, and ongoing support from, the parent New loan loss provisions and net charge-offs remain relatively low Strong capitalization Exposure to cyclical deterioration in asset quality Sector concentration due to focus on higher-risk rural banking market Relatively illiquid balance sheet The rating on Rabobank Australia Ltd. (Rabobank Australia) is equalized with that on the ultimate parent bank, Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A., of the Netherlands (Rabobank Nederland; AAA/Negative/A-1+), reflecting Rabobank Nederland's unconditional guarantee covering all obligations of Rabobank Australia. Although the parent has the ability to terminate its guarantee covering Rabobank Australia with a minimum of three months' notice, we believe it...

Companies mentioned in this report are:
- Rabobank Australia Ltd.
- Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank Nederland)
- Rabobank New Zealand Ltd.
- Rabobank Nederland (Australia Branch)

Action: Review

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: Full Analysis

- Rabobank Australia Ltd.
- Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank Nederland)
- Rabobank New Zealand Ltd.
- Rabobank Nederland (Australia Branch)

Customers who bought this item also bought

• International Military and Civilian Unmanned Aerial Vehicle Survey
• The Australia Defense Industry - Competitive Landscape and Strategic Insights to 2017: Market Profile
• International Armoured and Mine-Protected Vehicle Market
• Defense and Security in Australia
• Defense Expenditure in Australia to 2017: Market Review
• The Asia Pacific Research Centres Directory 2013
• Counter IED Market in the Australia to 2022: Market Brief
• UAV Payload Market in the Australia to 2022: Market Brief
• Directory of Asia Pacific Libraries 2013
• Military Satellites Market in Australia to 2022: Market Brief