Search results

Articles 12 through 22 of 57 matching your search criteria.

Monumental rating moves: 03 November 2008 6:34am

Monumental Global Funding has had as much as $725 million of bonds outstanding in the domestic market but now has only one $200 million, November 2011, bond remaining. Moody’s Investor Service changed the outlook on the ‘Aa3’ long-term ratings assigned to Monumental’s funding programs, to negative from stable, last week. This resulted from a similar outlook change on the senior debt rating assigned to the ultimate parent, Aegon N.V. » read more »

Bill Express leases may be void: 30 October 2008 6:48am

The recoverability of leases payable by newsagents for the use of their now redundant Bill Express terminals may be even more remote, with the Australian Competition and Consumer Commission taking action in the Federal Court alleging that Bill Express and equipment supplier Technology Business International engaged in conduct that was misleading or deceptive. The Age reported on the legal proceedings today. » read more »

Bank rescues trigger many rating actions: 06 October 2008 6:56am

Not surprisingly most of the rating action last week centred on the latest banks to find themselves in difficulty, and in some cases, their rescuers as well. There was a little local activity too. Key among those of interest to local investors were: Wachovia; Citigroup; Hypo Real Estate Bank International; Glitnir Bank; Kaupthing Bank; Dexia Group; Genworth; Lendlease; Centro and Centro CMBS; Qantas; and yet again, Mobius NCM-03 Trust and Allco Max Securities and Mortgage Trust (2005-1T and 2006-1T issues). » read more »

More trouble at asset-backed trusts: 29 September 2008 6:40am

There were no positive rating actions in the structured finance sector last week. The Seiza Augustus Series 2007-1 Trust came under fire again, following rating action by Fitch Ratings and Standard & Poor’s in August and September, respectively. » read more »

Bluestone secures second servicing contract: 11 September 2008 6:33am

The New Zealand mortgage manager Foundation Mortgage Securities announced yesterday that it had signed a contract to outsource the servicing of its residential mortgage portfolio to Bluestone Servicing. » read more »

Uncooperative Lane Cove loses rating: 01 September 2008 6:53am

A month after downgrading four tranches of notes issued by the Allco Finance Group vehicle, Mobius NCM-04 Trust, S&P has turned its attention to Mobius NCM-03 Trust and placed the ‘BB’ and ‘B’ ratings assigned to the Class D and Class E notes on CreditWatch with negative implications. The ratings assigned to higher classes of notes were affirmed. » read more »

Write-offs flowing through on Seiza and Mobius: 25 August 2008 6:37am

Charge-offs are emerging in a couple of asset-backed securities, sufficient to see credit ratings agencies downgrade the rating on senior debt given that the subordinated tranches no longer provide as much credit support as they were assumed to do at the time the bonds were sold to investors. » read more »

Mortgage servicing offers growth at low margins: 21 August 2008 6:43am

Perpetual Corporate Trust, the country’s leading corporate trustee, will target growth opportunities in mortgage servicing and processing in the current financial year as it waits for the asset backed securitisation market to come back to life. » read more »

Ratings wobblers: Deutsche, FGIC, NAB, Mobius, XLCA: 04 August 2008 6:30am

If NAB is feeling bruised and battered, Deutsche Bank must be feeling a whole lot worse. After announcing further write downs and impairment charges of €2.3 billion with its second quarter results on Thursday, S&P lowered its long-term credit rating a notch to ‘AA-‘ and left the outlook on negative. » read more »

Allco Max warns of a fire sale: 01 August 2008 6:39am

Credit arbitrage fund Allco Max sent a note out to investors yesterday warning that it was facing a difficult task finding new funding and that it may have to start selling assets. » read more »

Corporate bond market dead in July: 28 July 2008 6:46am

National Australia Bank brought the domestic corporate bond market back to life, at least fleetingly, with an $850 million addition to its June 2011 line. Up until then, total issuance for the month stood at only $250 million and while NAB’s latest issue takes the monthly total to $1.1 billion, it still leaves July with the lowest monthly total since July 2007, when only $800 million of bonds were issued. » read more »

« First Page « 1 2 3 4 5 6 » Last Page »
Page: 2 of 6 Total records: 57