Consumer-Related Corporates In Australia And N.Z. Maintain Sound Credit Quality, Report Says Apr 08

Standard & Poors, April 2008

Abstract
MELBOURNE (Standard & Poor's) April 7, 2008--Rated consumer-related corporates across Australia and New Zealand maintained relatively sound credit quality in the past six months, despite difficult trading conditions and the prospect of a weakening economic environment, according to a report published today by Standard & Poor's Ratings Services titled "Australian And N.Z. Consumer-Related Corporates Maintain Sound Credit Quality, Despite Difficult Conditions." The report explores key trends affecting the credit quality of companies involved in the following sectors: agribusiness, airlines, food and beverage, health care, media and gaming, retail, and telecommunications. "Unlike companies in some other sectors, the region's consumer-related corporates have so far managed to withstand the credit-market turmoil," said Standard & Poor's credit analyst May Zhong. "Indeed, most entities...

Companies mentioned in this report are:
- Telstra Corp. Ltd.
- Ansell Ltd.
- Qantas Airways Ltd.
- Telecom Corp. of New Zealand Ltd.
- Coca-Cola Amatil Ltd.
- Foster's Group Ltd.
- Air New Zealand Ltd. (Unsolicited Ratings)
- Tabcorp Holdings Ltd.
- PMP Ltd.
- Fairfax Media Ltd.
- Woolworths Ltd.
- Wesfarmers Ltd.
- AWB Ltd.
- SingTel Optus Pty Ltd.
- Queensland Sugar Ltd.
- Fonterra Co-operative Group Ltd.
- Aristocrat Leisure Ltd.
- AWB Harvest Finance Ltd.
- Crown Ltd.

Action: General Comment

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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- Telstra Corp. Ltd.
- Ansell Ltd.
- Qantas Airways Ltd.
- Telecom Corp. of New Zealand Ltd.
- Coca-Cola Amatil Ltd.
- Foster's Group Ltd.
- Air New Zealand Ltd. (Unsolicited Ratings)
- Tabcorp Holdings Ltd.
- PMP Ltd.
- Fairfax Media Ltd.
- Woolworths Ltd.
- Wesfarmers Ltd.
- AWB Ltd.
- SingTel Optus Pty Ltd.
- Queensland Sugar Ltd.
- Fonterra Co-operative Group Ltd.
- Aristocrat Leisure Ltd.
- AWB Harvest Finance Ltd.
- Crown Ltd.

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