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Australian and New Zealand Credit Quality Remains Strong Dec 00
Standard & Poors, Dec 2000
Abstract
A comprehensive review of credit quality in Australia and New Zealand has revealed the trend of deterioration evident over the past few years slowed during 2000. While some divergence in credit quality across sectors exists, the broad credit fundamentals in the medium-to-longer term remain sound. Critically, persistent signals have emerged that both economies may be slowing down to some degree, which contrasts to the situation evident in early 2000, when Standard & Poor's found both countries in relatively strong economic shape and on a fairly stable growth track. As predicted, industry consolidation and rationalization has continued unabated, particularly in the banking and insurance sectors, mirroring global trends. The ongoing push towards globalization, which has been the catalyst for a raft...
Companies mentioned in this report are: Australia (Commonwealth of) (Unsolicited Ratings),National Australia Bank Ltd.,New Zealand,Commonwealth Bank of Australia,South Australia (State of),Tasmania (State of),Christchurch City Council,Housing New Zealand Ltd.,ASB Bank Ltd.,Auckland City Council,Bulong Operations Pty 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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