New South Wales Treasury Corp. Feb 13
Standard & Poors, February 2013
Abstract
Integral link with the State of New South Wales Strong liquidity Strong financial and risk management Structural imbalance between revenue powers and expenditure responsibilities The ratings on New South Wales Treasury Corp. (TCorp.) reflect our assessment that there is an "almost certain" likelihood of extraordinary support provided in a stress scenario from TCorp's owner and guarantor, the State of New South Wales (NSW). In accordance with our criteria for government-related entities (GREs), our view of an "almost certain" likelihood of extraordinary support in a stress scenario is based on our assessment of TCorp's: "Critical" operational role in managing NSW's and its agencies' debt and a significant proportion of the state's financial assets, as well as providing ancillary services such as...
Companies mentioned in this report are:
- New South Wales Treasury Corp.
Action: Review
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: Full Analysis
- New South Wales Treasury Corp.
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