Australia Ratings announced today it has assigned credit ratings and product complexity indicators to a further 11 debt and hybrid securities listed on the ASX. Issuers of securities covered in the latest release include ANZ, NAB, Colonial and IAG.
The ratings have been issued as part of the ASX’s Debt and Hybrid Research Scheme under which Australia Ratings was appointed in November 2014 to assign credit ratings to debt and hybrid securities traded on the ASX.
The new ratings and product complexity indicators (PCI) are listed below:
Australia Ratings’ Managing Director, Chris Dalton, said “With today’s release of a further 11 ratings, Australia Ratings has now assigned ratings to a total of 76 ASX listed securities.” He said “the ratings of securities released today fall within what Australia ratings considers the high end of its credit rating scale. However the product complexity indicators range from BLUE, a relatively simple security, to RED which represents a very complex security.” Dalton commented that “investors should consider both the credit quality of the issuer as well as the complexity of the terms and conditions of the security to help determine the suitability of the security for an investor”.
The combination of a credit rating, which is an assessment of the credit quality of issuer of the security, and a Product Complexity Indicator give investors a clear and simple guide to credit quality and the complexity of the security.
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