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Australian Regional Financial Institutions Apr 06
Standard & Poors, April 2006
Abstract
In the past year, credit rating changes have been dominated by rating upgrades, with no rating downgrades issued, on Australia-based regional financial institutions (RFIs). During this time, Standard & Poor's Ratings Services upgraded three regional banks and two building societies, and revised the rating outlook on one regional bank to positive. Australian RFIs have generally strengthened their business operations and risk management capabilities while maintaining strong financial metrics. The sector has benefited from the combination of sound economic conditions, low and stable interest rates that have supported favorable credit conditions, and strong demand for loans. The RFIs that benefit the most have been those with a significant proportion of its loan portfolio in residential secured loans. This represents most, but...
Companies mentioned in this report are: Bank of Western Australia Ltd.,Suncorp-Metway Ltd.,Bank of Queensland Ltd.,Adelaide Bank Ltd.,St.George Bank Ltd.,Bendigo and Adelaide Bank Ltd.,Wide Bay Australia Ltd.,IMB Ltd.,Newcastle Permanent Building Society Ltd.,Rural Bank Ltd.
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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