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Australasian Structured Finance: New Rating Activity Slows In First Half of 1999 Jul 99 Product Image

Australasian Structured Finance: New Rating Activity Slows In First Half of 1999 Jul 99

  • Published: July 1999
  • Standard & Poors

FEATURED COMPANIES

  • ABN AMRO Australia Ltd.
  • Delaware
  • New Zealand
  • ORIX Australia Corp. Ltd.
  • Westpac Banking Corp.
  • MORE

Abstract
In the first half of 1999, the Standard & Poor's Structured Finance Group assigned ratings to 23 new transactions totaling A$8.3 billion of rated mortgage-backed securities (MBS), asset-backed securities (ABS), and asset-backed commercial paper (ABCP) programs supported predominantly by Australian assets. Only one of the 23 transactions rated was backed by New Zealand assets. Of the amount rated, A$7.16 billion was actually issued, representing a 15.3% increase to the total amount of securities outstanding as compared with year ended Dec. 31, 1998. Although total securities outstanding increased through the first six month of 1999, the total dollar amount of new ratings assigned dropped 28.6% when compared with the first six months of 1998. The decline in the number of new...

Companies mentioned in this report are:
- Delaware
- Australia (Commonwealth of) (Unsolicited Ratings)
- New Zealand
- Westpac Banking Corp.
- ABN AMRO Australia Ltd.
- ORIX Australia Corp. Ltd.

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns READ MORE >

- Delaware
- Australia (Commonwealth of) (Unsolicited Ratings)
- New Zealand
- Westpac Banking Corp.
- ABN AMRO Australia Ltd.
- ORIX Australia Corp. Ltd.

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