Wrapper about to fold 03 August 2009 4:31PM 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 27 July 2009 4:41PM 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 27 July 2009 4:40PM 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 27 July 2009 4:40PM 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 27 July 2009 4:39PM 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 27 July 2009 4:38PM 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 27 July 2009 4:37PM 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 27 July 2009 4:36PM 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
Construction and property sector drives the bond market 20 July 2009 4:39PM Momentum seems to be slowly building for true corporate bond issuance in the domestic market. Leighton Finance launched a minimum A$150 million, three-year bond issue on Thursday and was followed by A.. read more
A$2.1 billion raised in the US 20 July 2009 4:38PM 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