Research Update: Ratings On Wide Bay Australia Ltd. Raised To ?BBB/A-2? On Bank Criteria Revision; Outlook Stable Dec 11
- Language: English
- Published: December 2011
- Region: Australia
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: 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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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Wide Bay Australia Ltd.,Mortgage Risk Management Pty Ltd.