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Summary: Defence Housing Australia Nov 11
Standard & Poors, November 2011
The ratings on Defence Housing Australia (DHA) are based on DHA's standalone-credit profile (SACP) of 'a-', as well as our assessment that there is an "extremely high" likelihood that extraordinary support would be forthcoming from the Australian government (Commonwealth of Australia; AAA/Stable/A-1+) should DHA experience an event of financial distress. In accordance with our criteria for government-related entities (GREs), our view of an "extremely high" likelihood of extraordinary support is based on our assessment of DHA's: "Very important" operational role in implementing the government's policies, particularly the provision of housing to members of the Defence force. DHA has also been used as a vehicle for the delivery of part of the government's Nation Building - Economic Stimulus Plan. "Integral" link...
Companies mentioned in this report are: Defence Housing Australia
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Defence Housing Australia