The fallout from COVID-19 will linger beyond lockdowns for rated retail REITs, according to S&P Global Ratings senior director, corporate ratings, Craig Parker, and associate, corporate ratings, Rhys Corry. In Australasia, COVID-19 containment measures are eroding retail REIT earnings and reducing asset value amid unprecedented structural disruption.
Australia’s move toward a net-zero emissions future is accelerating, even in the absence of decisive federal policy leadership. Participants at the KangaNews Sustainable Debt Summit 2021 virtual event in June discussed the opportunities of a net-zero future and the risks of being left behind.
Australia’s mutual banks are innovating in response to sector-wide issues. Participants at the KangaNews Mutual Sector Wholesale Funding Seminar 2021 – which took place in Sydney in May – discussed an evolving business and funding environment, and how mutual banks can deliver in their areas of competitive advantage.
S&P Global Ratings revised the outlooks on 17 Australian financial institutions to positive from stable on 27 April based on its view that the Australian banking industry risk trend – within its banking industry country risk assessment – is now positive. The improved outlook notably excludes the big-four banks, however, given their close ties to a negative sovereign outlook.
In the second of two roundtables exploring corporate sectors on the front line of the COVID-19 crisis, in November 2020 KangaNews and Westpac Institutional Bank hosted issuers and analysts from the Australian REIT sector to talk about pandemic fallout. The conversation covered crisis response and the new shape of the sector in future, including the likely impact on individual property categories.