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Wide Bay Australia Ltd., MRM Outlook Revised To Stable On Improved Funding And Liquidity; Ratings Affirmed Jun 09 Product Image

Wide Bay Australia Ltd., MRM Outlook Revised To Stable On Improved Funding And Liquidity; Ratings Affirmed Jun 09

  • Published: June 2009
  • Standard & Poors

Abstract
MELBOURNE (Standard & Poor's) June 5, 2009-Standard & Poor's Ratings Services said today that it had revised its outlook on Queensland-based building society Wide Bay Australia Ltd. and Wide Bay's captive mortgage insurer Mortgage Risk Management Pty Ltd. to stable from negative. At the same time, the 'BBB-/A-3' counterparty credit ratings on Wide Bay and 'BBB-' rating on MRM were affirmed. "The outlook revision mainly reflects an amelioration of our funding and liquidity concerns on Wide Bay due to the dislocation of wholesale funding markets, and our confidence that Wide Bay's integration of Mackay Permanent Building Society (MPBS) is proceeding satisfactorily in the context of the current rating level," said Standard & Poor's credit analyst Gavin Gunning. Wide Bay has...

Companies mentioned in this report are: Wide Bay Australia Ltd.,Mortgage Risk Management Pty Ltd.
Action: Affirmed
Action: Outlook: Stable

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Wide Bay Australia Ltd.,Mortgage Risk Management Pty Ltd.

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