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Wednesday, 17 July 2019
Jun/Jul 2019

Fitch takes ESG to a new level

A holistic approach to integrating environmental, social and governance (ESG) factors into credit processes is becoming the norm across the global debt market. Fitch Ratings (Fitch)’s integrated scoring system has been operational for close to six months and Andrew Steel, the rating agency’s London-based managing director and global head of sustainable finance, explains why the agency believes this system could transform ESG investing.

Wednesday, 03 July 2019

Expected ratings assigned to Pepper SPARKZ ABS deal

On 3 July, expected ratings were assigned by Fitch Ratings and S&P Global Ratings to Pepper Group (Pepper)'s proposed asset-backed securities (ABS) deal, Pepper SPARKZ Trust No.1 (SPARKZ). The deal has indicative total volume of A$511.6 million (US$357.9 million). 

Wednesday, 08 May 2019
Apr/May 2019

Fixed-income investor survey: neighbourhood watch

The domestic housing market has soared as a risk factor in the minds of Australian fixed-income investors according to the latest Fitch Ratings (Fitch)-KangaNews Australian Fixed Income Investor Survey. A deeper look at the data suggests investors believe risk is contained, but the survey as a whole points to expectations of a slowing economy.

Monday, 06 May 2019

Expected ratings assigned to potential Firstmac RMBS deal

On 6 May, expected ratings were assigned by S&P Global Ratings and Fitch Ratings to Firstmac's potential residential mortgage-backed securities (RMBS) deal, Firstmac Mortgage Funding Trust No. 4 Series 2-2019 (Firstmac Series 2-2019). The deal has indicative total volume of A$500 million (US$348.8 million). ANZ, J.P. Morgan, National Australia Bank, Standard Chartered Bank, United Overseas Bank and Westpac Institutional Bank were mandated for the potential deal on 24 April.

Thursday, 03 January 2019
Dec/Jan 2018/19

Better days for Australian securitisation

The Australian securitisation market is arguably in its best shape since the financial crisis – at least in the sense of the robustness of market infrastructure and diversity of participants on the issuer and investor sides. In November, a record number of delegates gathered in Sydney at Australian Securitisation 2018, the annual conference of the Australian Securitisation Forum, to discuss the state of play – and some of the looming challenges.

Monday, 03 December 2018

Latitude prepares debut New Zealand dollar ABS deal

Latitude Financial Services (Latitude) is preparing a potential debut New Zealand dollar asset-backed securities (ABS) transaction, Latitude New Zealand Credit Card Master Trust (CCMT) Series 2018-1. Expected ratings were assigned by Fitch Ratings on 29 November and KangaNews understands the transaction was mandated on 30 November, with a launch expected in the coming days.

Friday, 12 October 2018
Oct/Nov 2018

Fixed-income investor survey: betting the house

In September 2018, Fitch Ratings (Fitch) and KangaNews conducted their biannual Australian Fixed-Income Investor Survey for the 10th time. Survey data collected over the past half decade show the changing patterns of investor outlook – and the latest iteration zeroes in on the domestic housing market as a key risk factor.

Friday, 12 October 2018
Oct/Nov 2018

Corporate Australia on the ground

The eighth KangaNews-Westpac Corporate Debt Summit, held in Sydney on 12 September, drew a record crowd once again. As well as providing insights from the heart of the banking, sustainability and economics sectors, there were in-depth discussions around the role of the Australian credit market relative to its global peers and the new open-banking regime, as well as the annual C-suite update.

Wednesday, 26 September 2018

CUA has expected ratings assigned to RMBS deal

On 26 September, S&P Global Ratings assigned preliminary ratings to Credit Union Australia (CUA)'s proposed residential mortgage-backed securities (RMBS) deal, Series 2018-1 Harvey Trust. Fitch Ratings assigned its expected ratings on the previous day. CUA mandated ANZ, Macquarie Bank, National Australia Bank and Westpac Institutional Bank for the potential transaction on 10 September.

Friday, 04 May 2018

Fixed-income investor survey: investors put credit under the microscope

The latest iteration of the biannual Australian Fixed-Income Investor Survey, conducted by Fitch Ratings (Fitch) and KangaNews in the second half of March, suggests Australian fixed-income investors continue to believe credit fundamentals are robust even as their outlook becomes more cautious at the margin.