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S&P Correct: Australian Fixed-Income Newsletter: Beyond The Curve Jul 07
Standard & Poors, July 2007
Abstract
LeasePlan Australia, PBL, Stockland, CBA, Bemax Resources, Emerald 11 Reverse Mortgage Trust Series 2007-1, Series 2007-1 Harvey Trust, RMS Series 2007-2H, Healthscope Coca-Cola Amatil Ltd., Watercare Services Ltd. CSR Ltd., FMG Finance Pty Ltd., Northern Rock PLC With the exception of a small A$40 million top-up by LeasePlan Australia Ltd., there was no issuance in the domestic corporate bond market last week, as we had feared. This left total issuance for the month at A$2.5 billion, the lowest monthly total since January 2006. While it is usual for issuance volumes to be lower in the second quarter than in the first, there has been a noticeable slowing of issuance through the second quarter of this year. Rolling twelve-month issuance stood...
Companies mentioned in this report are: Westpac Banking Corp.,Commonwealth Bank of Australia,LeasePlan Australia Ltd.,Stockland,Publishing and Broadcasting Ltd.,Credit Union Australia Ltd.,Fortescue Metals Group Ltd.,RMS Series 2007-2H,Bemax Resources Ltd.,Series 2007-1 Harvey Trust
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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