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Outlook On Mirvac Group Revised To Positive On Potential Improvement In Financial Metrics; 'BBB/A-2' Ratings Affirmed Dec 12 Product Image

Outlook On Mirvac Group Revised To Positive On Potential Improvement In Financial Metrics; 'BBB/A-2' Ratings Affirmed Dec 12

  • Published: December 2012
  • Standard & Poors

Abstract
MELBOURNE (Standard & Poor's) Dec. 21, 2012--Standard & Poor's Ratings Services today said that it had revised the outlook on the long-term issuer rating on Australian staple property group Mirvac Group to positive from stable. At the same time, we affirmed the 'BBB/A-2' corporate credit ratings. "The outlook revision reflects our view that Mirvac can sustain an improvement in its financial metrics to levels supportive of a higher rating," Standard & Poor's Ratings Services Craig Parker said. "The group is generating solid earnings from its investment portfolio and sold its noncore assets. At the same time, it has reduced its debt through the sale of its noncore assets and cut its interest expenses due to the termination of its high-cost...

Companies mentioned in this report are:
- Mirvac Group

Action: Affirmed
Action: On CreditWatch:Positive

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 READ MORE >

- Mirvac Group

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