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 2015 October-November
Corporate market focus: insights and outlooks from key players, borrowers’ intentions survey and issuance prospects. Fund managers on credit liquidity. New trends in investor survey responses. Offshore banks in Australia.