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Australasian Corporate Outlook Remains Negative Jun 00
Standard & Poors, June 2000
Abstract
Deterioration of corporate credit quality in Australia and New Zealand has slowed in the past two years, but the credit outlook for Australasian corporates still remains negative, according to Standard & Poor's Australia & New Zealand CreditStats 2000 survey. Standard & Poor's annual survey of corporate credit trends in Australia and New Zealand has highlighted three key credit trends: Deterioration in financial profiles across the survey population has slowed, after evidencing negative trends in the past two surveys. A focus on cost reduction has enabled operating margins to improve despite continuing intense price competition, but returns on funds employed have weakened, reflecting low inflation, a low interest rate environment, and underperforming or yet-to-be-commissioned assets. In response to the demand for...
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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