More SSA borrowers lose AAA status and repo eligibility but EIB holds onThe most recent round of downgrades to European sovereigns by Standard & Poor’s (S&P) – most significantly affecting the ratings of Austria and France – has caused A$2.45 billion (US$2.54 billion) of supranational, sovereign and agency (SSA) Kangaroo paper to lose its AAA status. The second largest Kangaroo borrower, European Investment Bank (EIB), has maintained its top S&P rating albeit with negative outlook.
Latest Issue 2014 September
NZ summit report: a changing market discussed at the KangaNews New Zealand DCM Summit. SSA Kangaroo issuance moves with the times. Western European FIs in focus. Australia's financial system inquiry interim report analysed. Bird's Eye View: surprise relative value in rates assets.