Australian Governments and Banks

This report evaluates the credit profiles of Australian government and banking bond issuers. While most maintain stable outlooks, the outlook for NSW and Queensland Treasury Corporations has been downgraded to 'Deteriorating'.

Key Takeaways

• 1.Australian government and bank bonds are viewed as high grade, offering sound credit quality and appealing valuations.
• 2.Issuer credit outlooks for New South Wales Treasury Corp and Queensland Treasury Corp lowered to 'Deteriorating'.
• 3.Major Australian banks maintain solid operating performance and stable credit outlooks.

Table of Contents

• Section 1: Australia
• Other rating drivers and risks
• Section 2: Australian states
• New South Wales Treasury Corporation (NSWTC)
• Queensland Treasury Corporation (QTC)
• South Australia Government Financing Authority (SAFA)
• Treasury Corporation of Victoria (TCV)
• Western Australia Treasury Corporation (WATC)
• Section 3: Australian banks

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