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Australian Fixed-Income Newsletter: Beyond The Curve May 07
Standard & Poors, May 2007
Abstract
Sallie Mae, Wells Fargo & Co., Shinhan Bank, Wachovia Corp., Rabobank Nederland, Fonterra Co-operative Group, Macquarie Bank, ANZ Bank, Series 2007-1E SWAN Trust Telecom Corp. of New Zealand Ltd., AGL Energy, Westpac Banking Corp., St.George Bank Ltd., Rinker Group Ltd. Series 2007-1E SWAN Trust CLP Australia Holdings Pty Ltd. and TRUenergy Pty Ltd., Orica Ltd., Symbion Health Ltd. Latest S&P investment research Recent meetings with investors have highlighted the significance of the Sallie Mae LBO to the domestic market. Since May 2004 Sallie Mae has issued some A$1.6 billion of bonds in the domestic market, building a curve with maturities ranging from 2009 to 2012. While far from being among the largest kangaroo issuers, Sallie Mae has demonstrated admirable commitment...
Companies mentioned in this report are: Wells Fargo & Co.,Royal Bank of Canada,Westpac Banking Corp.,Orica Ltd.,Symbion Health Ltd.,Qantas Airways Ltd.,Telecom Corp. of New Zealand Ltd.,Macquarie Bank Ltd.,St.George Bank Ltd.,Shinhan Bank,Fonterra Co-operative Group Ltd.,Cemex Corp.,TRUenergy Pty Ltd.,Rabobank Nederland (Australia Branch),TRUenergy Holdings Pty Ltd.,AGL Energy Ltd.,Series 2007-1E SWAN Trust
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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