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Australian Fixed-Income Newsletter: Beyond the Curve May 06
Standard & Poors, May 2006
Abstract
Reports emerged last week that some fixed-interest market participants are concerned that the Future Fund could drain liquidity from the Commonwealth Government Securities (GCS) market. This is a curious concern given that the Future Fund emerged out the Government's decision not to buy back outstanding CGS and become truly debt free. Macquarie Bank Ltd., CSR Ltd., Lion Nathan Ltd., AMP Ltd., TABCORP Holdings Ltd., and Transurban Finance Co. Pty. Ltd. Australian Mutual Capital Funding (No. 1), PUMA Masterfund S-3 Series A, and Interstar Millennium Series 2006-2G Trust Security Holding Investment Entity Linking Deals Pty. Ltd. Series 6, and Security Holding Investment Entity Linking Deals Pty. Ltd. Series 8 Reports emerged last week that some fixed-interest market participants are concerned that...
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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