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ARCHIVE | Criteria | Financial Institutions | General: The Ratings Approach To Australian Government-Guaranteed Debt (Updated) Jun 09
Standard & Poors, June 2009
Abstract
Standard & Poor's Ratings Services is refining and adapting its ratings methodology and assumptions for the authorized deposit-taking institutions' (ADIs) debt guaranteed by the Commonwealth of Australia under the Australian Government Guarantee Scheme for Large Deposits and Wholesale Funding (AGGS). This article is related to 'Criteria: Principles of Corporate and Government Ratings,' which we published on June 26, 2007, on RatingsDirect at www.ratingsdirect.com and Standard & Poor's Web site at www.standardandpoors.com. We are publishing this article to help market participants better understand our approach to rating Australian government-guaranteed debt issues. This article partly amends and supersedes the statements regarding such guaranteed debt issued by foreign ADIs in our article 'The Ratings Approach To Australian Government-Guaranteed Debt,' published April 20, 2009,...
Companies mentioned in this report are: Australia (Commonwealth of) (Unsolicited Ratings),National Australia Bank Ltd.,Australia and New Zealand Banking Group Ltd.,Westpac Banking Corp.,Commonwealth Bank of Australia,Macquarie Bank Ltd.,Suncorp-Metway Ltd.,Citigroup Pty Ltd.,Bank of Queensland Ltd.,St.George Bank Ltd.,Bendigo and Adelaide Bank Ltd.
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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