Summary: National Wealth Management Holdings Ltd. Nov 07
- ID: 2046026
- November 2007
- Standard & Poors
The rating on National Wealth Management Holdings Ltd. (NWMH; AA-/Stable/A-1+) reflects the NWMH group's core position in the National Australia Bank Ltd. (NAB; AA/Stable/A-1+) group and NWMH's structural subordination, as the holding company, to its operating subsidiaries. NWMH is the ultimate holding company for the life insurance and wealth management operations of NAB, including MLC Lifetime Co. Ltd. (MLC Lifetime; AA/Stable/--) and MLC Ltd. (MLC; AA/Stable/--). NWMH is a wholly owned subsidiary of NAB. The rating on NWMH group is supported by its parent NAB because wealth management business is viewed as a core component of the NAB group under Standard & Poor's Rating Services' criteria for rating group entities. For the six months ended March 31, 2007, NAB's wealth...
Companies mentioned in this report are:
- National Wealth Management Holdings Ltd.
- National Australia Bank Ltd.
- MLC Ltd.
- MLC Lifetime Co. Ltd.
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