The Australian Defense Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016
- Published: October 2011
MELBOURNE (Standard & Poor's) June 23, 2009--Standard & Poor's Ratings Services said today its 'A/Stable' counterparty credit and financial strength ratings on Norwich Union Life Australia Ltd. (trading as "Aviva Australia") were placed on CreditWatch with positive implications on the announcement that National Australia Bank Ltd. (NAB, AA/Stable) has agreed to purchase Aviva Australia Holdings' wealth management business, including its life insurance operations and investment platform business. The positive CreditWatch action suggests the likely higher rating outcome on Norwich Union Life Australia Ltd. on finalization of the acquisition, which is subject to regulatory approval and expected to close in the third or fourth quarter of 2009. "The ratings are likely to be raised by one or two notches with the...
Companies mentioned in this report are: WM Life Australia Ltd.,National Australia Bank Ltd.
Action: On CreditWatch:Positive
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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WM Life Australia Ltd.,National Australia Bank Ltd.
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