AOFM gets into its RMBS stride 24 November 2008 5:50PM The week started in the domestic market with the pricing of the second AOFM-backed RMBS issue, this time from Members Equity Bank via SMHL Securitisation Fund 2008-2. Again a total of only $600 millio.. read more
Lights are still on in the New Zealand debt capital markets 24 November 2008 5:49PM All other issuance activity had a distinctively New Zealand flavour last week. In the New Zealand market, Bank of New Zealand completed a small NZ$25 million, October 2010, bond issue that had been an.. read more
Do not guarantee more than your GDP is worth 24 November 2008 5:48PM Continuing on our theme of recent weeks on the question of the value of a government guarantee of banks' wholesale debt raisings and in particular the subject of last week, that some guarantees are mo.. read more
Poor outlook for Australian REITS 24 November 2008 5:47PM Moody's Investor Service has re-assessed its view on the A-REITS sector, moving to a negative outlook for the next 12-18 months. Moody's says the sector is now facing prospects of a further weakening.. read more
S&P clarifies Elderslie MTN ratings 24 November 2008 5:46PM Back around the end of June, early July, Elderslie Finance was placed in receivership by the trustee of the company's debenture holders, Perpetual. At the same time, due to a deficiency of funds in th.. read more
The end appears nigh for B&B 24 November 2008 5:46PM It is often the way when struggling companies get close to the end that developments move very quickly. This is where Babcock & Brown is now and the rating agencies are struggling to keep up. The.. read more
No Fitch rating for Genworth 24 November 2008 5:45PM Presumably for 'business reasons' Fitch has withdrawn its credit ratings on Genworth Financial Inc., and all of its mortgage insurance operations, including those in Australia. Only in the last month,.. read more
Other rating actions 24 November 2008 5:44PM One company that has been able to use asset sales to advantage its credit rating is AGL Energy. S&P revised the outlook on the 'BBB' long-term rating that it assigns to the company to stable from.. read more
Few follow AOFM into FirstMac 17 November 2008 5:26PM FirstMac on Friday finalised terms for the sale of mortgage-backed securities in which the Australian Office of Financial Management was the cornerstone investor. read more
Some wholesale bank guarantees are more equal than others 17 November 2008 5:25PM Only a few weeks ago governments around the world moved quickly to introduce guarantee support for their domestic banks. In the global wholesale markets, the guarantees were intended, among other thin.. read more