The Australian Defense Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016
- Published: October 2011
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: Outlook: Stable
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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Wide Bay Australia Ltd.,Mortgage Risk Management Pty Ltd.
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