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Export Finance & Insurance Corp. May 04 Product Image

Export Finance & Insurance Corp. May 04

  • Published: May 2004
  • Standard & Poors

FEATURED COMPANIES

  • Airservices Australia
  • Australian Postal Corp.
  • MORE

Abstract
The Export Finance &Insurance Corp.'s (EFIC) ratings reflect the guarantee by the Commonwealth of Australia (AAA/Stable/A-1+). In addition to the guarantee, further explicit government support underpins credit quality. Credit risk exposures and commitments undertaken as part of the 'national interest' are assumed by the Commonwealth. National interest account exposures represent 51% of EFIC's A$5.3 billion on- and off-balance sheet total exposures and commitments. The remaining A$2.6 billion exposures and commitments are deemed to be under the 'commercial account'. These exposures are borne in the first instance by EFIC and backed by a capital base of A$254 million. If this capital base proves inadequate, further support is provided in EFIC's legislated ability to call on up to A$200 million extra capital...

Companies mentioned in this report are:
- Export Finance & Insurance Corp.
- Australia (Commonwealth of) (Unsolicited Ratings)
- Australian Industry Development Corp.
- Australian Postal Corp.
- Airservices Australia
- Commonwealth Scientific and Industrial Research Organisation
- Australian National University (The)

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- Export Finance & Insurance Corp.
- Australia (Commonwealth of) (Unsolicited Ratings)
- Australian Industry Development Corp.
- Australian Postal Corp.
- Airservices Australia
- Commonwealth Scientific and Industrial Research Organisation
- Australian National University (The)

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