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A Mixed Credit Picture For Australia and New Zealand Dec 01
Standard & Poors, Dec 2001
Abstract
After a highly turbulent year in 2001, Australian and New Zealand capital markets participants are gearing up for what may be a banner year. Recent withholding tax changes and a pipeline of bond refinancings are set to fuel issuance in the local markets. Credit markets were subjected to high volatility on a range of fronts in 2001, overshadowed by a series of high-profile corporate collapses and the flow-on effects from the catastrophic terrorist events in the U.S. on September 11. With this overhang, and the current slowdown in economic conditions globally, the outlook for Australian and New Zealand credit markets in 2002 is somewhat mixed. The trend line in the corporate sector remains negative, reflecting the weak conditions in a...
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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