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Australian Fixed-Income Newsletter: Beyond The Curve Jun 07
Standard & Poors, June 2007
Abstract
FirstMac Mortgage Funding Trust Series 1E-2007, Crusade Euro Trust No.1E of 2007, RMS Series 2007-2H, Colonial First State Capital Management Pty Ltd. Series 1 (2007), John Deere Credit Australia, Energy Partnership (Gas), Bank of New Zealand, nab, ANZ Bank, Fairfax Media. Telecom Corp. of New Zealand Ltd., GPT Group, Snowy Hydro Ltd., SNS Bank N.V. Crusade Euro Trust No.1E of 2007, RMS Series 2007-2H and Colonial First State Capital Management Pty Ltd. Series 1 (2007). To paraphrase Gordon Gekko, 'debt is good', and this seems to be the view that the state governments are now coming around to as they consider ways to fund significant infrastructure renewal and expansion. The funding required is sufficiently large that it cannot be funded...
Companies mentioned in this report are: National Australia Bank Ltd.,Bank of New Zealand,St.George Bank Ltd.,Fairfax Media Ltd.,Financial Security Assurance Inc. (Australia) ,John Deere Financial Limited,Energy Partnership (Gas) Pty Ltd.,FirstMac Ltd.,FirstMac Mortgage Funding Trust Series 1E-2007,Colonial First State Capital Management Pty Ltd,Crusade Euro Trust No.1E of 2007,RMS Series 2007-2H
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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