Bank Credit Ratings News

Australia’s SPIAA prices $612m 5-yr bondFriday, July 30, 2010 @ 3:22AMSPI (Australia) Assets Pty Limited (SPIAA), a wholly-owned unit of Singapore Power, has more than doubled a five-year bond issue to A$500 million ($612 million) and priced it at 185 bps.  The bond sale, initially launched with a minimum size of A$200 million at 180-185 bps, will help refinance bank loans.  Read more...

Yields Falling to ’04 Levels Spark Busiest July: Credit MarketsFriday, July 30, 2010 @ 2:59AMU.S. corporate bond sales soared 31 percent this month, the busiest July on record, as yields fell to the lowest in more than six years on growing investor confidence in the economic recovery.

GrainCorp to Buy AWB for A$803 Million to Supply AsiaFriday, July 30, 2010 @ 2:45AMGrainCorp Ltd. agreed to buy AWB Ltd. for A$803 million ($723 million) to become Australia’s top wheat exporter, taking on Cargill Inc. and Viterra Inc. in supplying Asia, the biggest buyer of the grain.

Fitch Cuts Vietnam Rating on Borrowing, ‘Weak’ BanksThursday, July 29, 2010 @ 3:34AMVietnam’s debt rating was lowered by Fitch Ratings on concern about the nation’s “inconsistent” economic policy, foreign-exchange reserves and banking system.

Bank Risk Headed for Record Monthly Decline in Europe Amid Stress ReliefThursday, July 29, 2010 @ 3:05AMThe cost of insuring against losses on European bank bonds fell, heading for a record monthly decline, according to traders of credit-default swaps.