Ratings downgrades wear some of the blame 13 October 2008 5:47PM It was rating actions that seemed to be behind much of the drama that continued in global financial markets last week. Indeed, Standard & Poor's placing of the B- long term credit ratings assigned.. read more
Bondholders lose on Glitnir bonds 13 October 2008 5:46PM While the UK was moving to deal with the problems of its banking system, the Belgian, French and Dutch governments were dealing with the collapse of the pan-European financial services group, Fortis N.. read more
Ratings agencies unsure on Suncorp, split on Genworth 13 October 2008 5:45PM S&P and Fitch affirmed their 'AA' long-term credit ratings and stable outlook assigned to the Commonwealth Bank after the bank announced its acquisition of BankWest. Being funded by a A$2 billion.. read more
NAB and Westpac face toughest funding task 22 September 2008 4:44PM Australia's banks will certainly be hoping that global bond markets quickly rebound, as they have almost A$37 billion of bonds issued in international markets, maturing over the next six months. read more
Myriad rating actions in busy week 22 September 2008 4:43PM In the week that was, rating actions were myriad. Starting with Lehman Bros, Standard & Poor's and Fitch Ratings both moved the ratings on the holding company to default after the company applied.. read more
Credit markets caught out with CDS and bonds 16 September 2008 4:34PM On the Monday after Bear Stearns was forced into the arms of JP Morgan Chase (in March 2008), the Aussie iTraxx CDS index hit its widest level of 208 bps and in the three weeks prior to this the index.. read more
Credit spreads widening in the Samurai market 15 September 2008 4:26PM International bond issuance was led by the ANZ last week. The bank issued four tranches of Samurai bonds raising the equivalent of A$1.0 billion. read more
Challenger goes public 15 September 2008 4:26PM The structured finance sector of the domestic debt capital market saw most activity last week, in terms of issuance and rating actions. The sector, and primarily RMBS, has made something of a comeback.. read more
No end in sight, or the worst is yet to come 08 September 2008 4:36PM The Bank for International Settlements, the central bankers' central bank, released its September 2008 Quarterly Review last week. One local newspaper (the AFR) misquoted the BIS from one of the artic.. read more
Telstra quick to meet investor demand 08 September 2008 4:35PM The stand-out deal in the debt capital markets last week was the A$1 billion private placement of prime RMBS by St George Bank. The Class A, 'AAA' rated notes were issued by Crusade Trust No.1 of 2008.. read more