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Australian and New Zealand Corporate Credit Quality Remains Under Pressure Jun 01
Standard & Poors, June 2001
Abstract
Standard & Poor's Australia and New Zealand CreditStats 2001 survey reveals the deterioration in credit quality among Australian and New Zealand corporates slowed in 2000, as restructuring initiatives, cost reduction strategies, and favorable economic conditions for much of the year gave companies some respite and enabled median credit ratios to stabilize. Despite these trends and a significant number of rating downgrades, the outlook for credit quality remains negative with 19% of Standard & Poor's rated corporates on negative outlooks. Event risk and poor performance are the key factors driving this outlook, and, for some companies, the recent slowdown in economic activity will place additional pressure on credit quality. The key findings of Standard & Poor's Australia and New Zealand CreditStats...
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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