• +353-1-416-8900(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
Research Update: Wide Bay Australia Ltd. Ratings Affirmed; Outlook Stable Jun 10 Product Image

Research Update: Wide Bay Australia Ltd. Ratings Affirmed; Outlook Stable Jun 10

  • Published: June 2010
  • Region: Australia
  • Standard & Poors

Abstract
We have affirmed our 'BBB-' counterparty credit rating on Queensland-based Wide Bay Australia Ltd. (Wide Bay). While Wide Bay enjoys low credit losses and a good franchise and market position in regional Queensland, its rating is constrained by its business, product, and geographic concentration risk, and small absolute capital base. The stable outlook reflects our expectation that Wide Bay will continue its low-risk lending activities and that its financial profile (including credit losses, liquidity, and profitability) will not materially deteriorate. On June 16, 2010, Standard & Poor's Ratings Services affirmed its 'BBB-' long-term counterparty credit rating on Queensland-based Wide Bay Australia Ltd. (Wide Bay). At the same time, we affirmed our 'A-3' short-term rating. The outlook is stable. The counterparty...

Companies mentioned in this report are: Wide Bay Australia Ltd.,Mortgage Risk Management Pty Ltd.
Action: Affirmed
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. READ MORE >

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

Note: Product cover images may vary from those shown

RELATED PRODUCTS