Wrapper about to fold

S&P resolved its CreditWatch on Ambac Assurance Corp., and slashed its counterparty and financial strength rating to 'CC' from 'BBB' and left the rating with a developing outlook. S&P flagged.. read more

Covered bonds an option

The Australian Securitisation Forum has been working hard to find a way to revitalise the domestic securitisation market, primarily in relation to the securitisation of residential mortgages. These ef.. read more

Issuer diversity last week

Issuance in the domestic market did not set any records for volume last week, totalling a respectable A$2.140 billion, but market participants would struggle to remember the last time three Australian.. read more

Guaranteed RMBS issuance another option

The ASF's proposal for a government guarantee of RMBS issuance is another option for revitalising the domestic securitisation market. As we have argued previously, the removal of the government guaran.. read more

Westpac busy in New Zealand

In New Zealand, Westpac added a further NZ$225 million to the July 2014, government guaranteed, line that it had opened only the week before. The increase takes outstandings to NZ$575 million with pri.. read more

Upcoming maturities

With the recent resurgence in true corporate issuance, speculation has mounted on where more such issuance will come from. We mentioned a couple of names last week, which remain short-term prospects,.. read more

Domestic rating actions were soft

Speaking of Coca-Cola Amatil, Fitch Ratings made a routine affirmation of the 'BBB+/Stable/F2' issuer default ratings assigned to the company and did the same with the 'BBB/Stable/F2' ratings assigned.. read more

But the offshore trend was negative

With the on again, off again, marriage of Volkswagen and Porsche being back on again, Fitch has left its 'BBB+' issuer default rating assigned to Volkswagen on Rating Watch Negative. With the final de.. read more

A$2.1 billion raised in the US

ETSA Utilities last week raised US$500 million in the US traditional private placement market, Reuters reported. The funds were raised at an average spread of 275 bps over US Treasuries with maturitie.. read more