Ratings Raised On Six Classes Of Wide Bay Australia Ltd. (WB Trusts) RMBS Notes; Seven Classes Affirmed Aug 12
- Language: English
- Published: August 2012
- 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
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Wide Bay Australia Ltd.,Mortgage Risk Management Pty Ltd.