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Australasian Credit Quality Review Jun 99
Standard & Poors, June 1999
Abstract
A review of credit quality, as measured by rating actions on Australian and New Zealand entities during the first half of 1999, revealed a deterioration in credit quality although the total number of rating actions was relatively moderate. Importantly, clear differences in changes to underlying credit quality emerge across various sectors. During the period Jan. 1-June 21, there were nine upgrades reported and 16 downgrades. While the divergence in credit quality was not as pronounced as that recorded in the previous six months, when there were seven upgrades and 19 downgrades (see chart 1), the trend established in 1997 continues, with the number of downgrades consistently higher than the number of upgrades. In its regular six-monthly review of credit quality,...
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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