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Australian Prime RMBS Arrears Eased Again In 3Q 2011 With Three New Transactions Issued, S&P Report Says Jan 12
Standard & Poors, Jan 2012
Abstract
MELBOURNE (Standard & Poor's) Jan. 25, 2012--Loans underlying Australian prime residential mortgage-backed securities (RMBS) that are greater than 30 days in arrears fell to 1.52% in September 2011 (Q3) from 1.69% in June 2011, according to a report published by Standard & Poor's Ratings Services. Subprime RMBS arrears fell by 127 basis points to 10.38% during the same period. The total loan balance outstanding for prime issuance decreased to A$84.2 billion in Q3 from A$85.9 billion in June 2011. In the subprime and nonconforming RMBS space, total notes outstanding decreased to A$1.7 billion in Q3 from A$1.9 billion in June 2011 'The reduced arrears levels indicate signs of recovery after weather-related disruptions in early 2011,' Standard & Poor's credit analyst...
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.
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