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ABS Performance Watch: Australian Structured Finance Ends On Record Year Mar 02
Standard & Poors, March 2002
Abstract
The Standard & Poor's Australian Mortgage Performance Index (SPIN) was 0.90% in the December 2001 quarter, unchanged from the September 2001 quarter. The performance of SPIN, which measures the level of delinquencies on securitized mortgage portfolios, reflects the favorable economic climate for the period. The Australian economy remained stronger than most overseas economies in the fourth quarter with the prospect of further improvement in 2002. Interest rates also remained low following a series of monetary policy easings in the first three quarters. The SPIN is expected to remain at around current levels in the short term even though property markets are projected to stabilize after a period of strong growth. The equivalent of A$6.3 billion of residential mortgage-backed securities (RMBS)...
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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