S&P Reports Sound Performance Of Australian ABS Transactions For Q1 2011 Jun 11
Standard & Poors, June 2011
Abstract
SYDNEY (Standard & Poor's) June 14, 2011--Australian asset-backed securities (ABS) continue to perform within Standard & Poor's Ratings Services' rating expectations, according to a report published by Standard & Poor's titled, Australia & New Zealand ABS Performance Watch, for first-quarter (Q1) ended March 31, 2011. "We view the overall performance of ABS asset classes for Q1 2011 to be sound. However, the average percentage of loans in arrears for ABS that we rate has increased over the quarter," Standard & Poor's credit analyst Vera Chaplin said. "We believe the increase is partly due to the impact of the recent natural disasters in Australia on some borrowers' ability to meet their loan commitments, especially in Queensland. Arrears may continue to climb...
Action: General Comment
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
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