Continued credit rationing drives corporates to the bond market 20 July 2009 4:38PM So what has changed? Well the answer is obvious: the GFC and the banks tightening up on credit. read more
Fitch puts New Zealand on notice and downgrades Queensland 20 July 2009 4:36PM The DMO's timing was fortunate, as the next day Fitch revised the outlook on New Zealand's 'AA+' sovereign rating to negative from stable. Fitch said the revision reflects its concern about the medium.. read more
Westpac second to use NZ guarantee 20 July 2009 4:36PM Westpac New Zealand became the second bank to issue under a New Zealand government guarantee in that market, last week. Westpac raised NZ$350 million for five years at 60 basis points over swap. read more
Vale CIT 20 July 2009 4:35PM CIT Group Inc., remained at the centre of attention in financial markets last week. At first, it appeared that it would be rescued by the FDIC with a guarantee of its debt, but on Thursday the news br.. read more
BAB's okay 20 July 2009 4:34PM Bendigo and Adelaide Bank's exposure to investors in the collapsed MIS company, Great Southern Limited, has been the subject of much comment in the media. Fitch took the step of affirming the 'BBB+/F2.. read more
More upgrades and affirmations 20 July 2009 4:33PM As flagged in early June, when S&P placed Mirvac Group's credit ratings on CreditWatch with positive implications, it resolved the CreditWatch last week and moved the ratings up a notch to 'BBB/A-.. read more
RMBS pricing consistent with bank paper 13 July 2009 5:04PM Australian Central Credit Union last week launched its mortgage-backed security Light Trust No.2. The Australian Office of Financial Management is the cornerstone investor. read more
Credit spreads moving wider again 13 July 2009 5:04PM With the end of the first half of the year out of the way, the major banks returned to bond issuance activity with vigour: none more so than Commonwealth Bank, which has about a A$30 billion funding t.. read more
No margin for Heritage 13 July 2009 5:02PM Heritage Building Society indicated that it is no longer going to bother with mortgage-backed securities as a source of funding and will rely on the corporate bond market instead. read more
AOFM returns 13 July 2009 5:01PM The Australian Office of Financial Management returned from being AWOL last week and held its now customary bond tenders on Wednesday and Friday. The two bonds offered were relatively short dated and.. read more