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Australian Fixed-Income Newsletter: Beyond The Curve Jun 06
Standard & Poors, June 2006
Abstract
May proved to be the most volatile month for the Australian equity market since February 2003. Bond markets also reacted, but in a somewhat less dramatic manner. Snowy Hydro, Tabcorp, Promina, Vero LMI, Genworth Financial Mortgage Insurance, Vodafone, and Aristocrat Leisure. National Wealth Management Holdings, St.George Bank, and Suncorp Metway. Hypo Real Estate Bank, Tabcorp Holdings, and Watercare Services. For governments and local authorities, debt is not necessarily bad. Since the early 1990s debt has been off the political agenda in Australia--or, to be more precise, debt reduction has been very much on the agenda. Debt has been seen as a bad thing, to be reduced as quickly as possible. But could the political will be changing? Are we starting...
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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