Summary: Defence Housing Australia Nov 11
- ID: 2026738
- November 2011
- Region: Australia
- Standard & Poors
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
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >