The Australian Defense Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016
- Published: October 2011
Abstract
The credit quality of most Australian residential mortgage-backed securities (RMBS) is likely to remain stable, despite renewed uncertainty over the global economic outlook and growth prospects for China. However, subordinated RMBS could be vulnerable--with possible downward rating biases--if China were to experience a harder landing, thereby adversely affecting Australia's mining sector and the overall economy. While Standard & Poor's Ratings Services expects the performance of the housing market and housing loans to weaken, the credit enhancement available to Australian senior RMBS is likely to withstand a worsening of portfolio credit quality. Australian subordinated RMBS would be sensitive to the effect of a downturn on the financial strength of Australian lenders' mortgage insurance (LMI) providers. In addition, see "Credit Outlook: Chinese...
Companies mentioned in this report are:
- National Australia Bank Ltd.
- Westpac Banking Corp.
- Commonwealth Bank of Australia
- Bank of Western Australia Ltd.
- Bank of Queensland Ltd.
- HSBC Bank Australia Ltd.
- Bendigo and Adelaide Bank Ltd.
- AMP Bank Ltd.
- Wide Bay Australia Ltd.
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- National Australia Bank Ltd.
- Westpac Banking Corp.
- Commonwealth Bank of Australia
- Bank of Western Australia Ltd.
- Bank of Queensland Ltd.
- HSBC Bank Australia Ltd.
- Bendigo and Adelaide Bank Ltd.
- AMP Bank Ltd.
- Wide Bay Australia Ltd.
- The Rock Building Society Ltd.
- Credit Union Australia Ltd.
- Greater Building Society Ltd.
- IMB Ltd.
- Newcastle Permanent Building Society Ltd.
- mecu Ltd.
| Format | Properties | |
|---|---|---|
| Electronic | The report will be emailed to you. |