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Australian Fixed-Income Newsletter: Beyond The Curve Oct 06
Standard & Poors, Oct 2006
Abstract
Are financial covenants making a comeback in bond issues? Have European investors had their fingers burnt too many times with LBOs? Are local investors taking note? Bank of Queensland, Regional financial institutions, Westfield Group Hypothekenbank in Essen AG, Liberty Series 2006-1 Auto Trust. Suncorp-Metway Ltd., Promina Group Ltd., Greater Building Society Ltd., Simply Insurance New Zealand Ltd. Are financial covenants making a comeback in bond issues? Have European investors had their fingers burnt too many times with LBOs? Are local investors taking note? Stockland Trust Group is currently marketing a GBP denominated bond issue via Stockland Finance Pty. Ltd. that will represent its debut in the sterling market. The size of the transaction has not been disclosed, but it is...
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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