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 2017 February-March
Unpicking the role of global price comps in domestic corporate deals. USPP and global investor views. The ‘fourth phase’ for SSA Kangaroos. Australia’s first blockchain bond trial and the role of intermediaries. Plus news and deals.