- Language: English
- Published: December 2011
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
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: On CreditWatch:Positive
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- Mirvac Group