ASX Clearing seeking capital
One new vendor will be ASX Clearing Corp, which plans to sell A$145 million of fixed-rate bonds.Standard & Poor's released ratings on ASX Clearing Corp Ltd of 'AA-' and on the bonds, 'A'. The two-notch differential on the bonds reflects the fact that the bonds have been designed to absorb losses in the event of a major clearing house participant or investment counterparty defaulting. The issuer is a subsidiary of ASX, Australia's dominant securities exchange.There has been no word yet on the timing of the issue.