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Mortgage Risk Management Pty Ltd. Feb 13 Product Image

Mortgage Risk Management Pty Ltd. Feb 13

  • Published: February 2013
  • Standard & Poors

Abstract
Implicit support from stronger-rated parent, Wide Bay Australia Ltd. Good risk-based capitalization Good liquidity Marginal competitive position as a company in wind-down Concentrated underlying book of business Somewhat aggressive investment allocations compared to peers The 'BBB-' financial strength and issuer credit ratings on Mortgage Risk Management Pty Ltd. (MRM) reflects the company's 'bb+' stand-alone credit profile (SACP) and one notch of ratings benefit from being a moderately strategically important (MSI) subsidiary of Queensland-based building society Wide Bay Australia Ltd. (WBA; BBB/Stable/A-2). In our opinion, MRM has a 'bb+' SACP because of its good risk-based capitalization and good liquidity. These strengths are moderated by the company's marginal competitive position as a company in wind-down, plus its concentrated underlying book of business...

Companies mentioned in this report are:
- Mortgage Risk Management Pty Ltd.

Action: Review

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- Mortgage Risk Management Pty Ltd.

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