Melbourne, Monday 16 June 2025 – Australia Ratings today announced it will cease assigning credit ratings to debt and
hybrid securities listed on the ASX, effective 30 June 2025.
This includes the public ratings of the Australian Government Treasury Bonds and Treasury Indexed Bonds, as well as the Australian Unity
Bonds (ASX codes: AYUHD and AYUHE) issued by Australian Unity Limited (AUL).
Australia Ratings has reviewed and affirmed its credit rating of ‘BBB+’ on the Australian Unity Bonds (Bonds; ASX codes: AYUHC, AYUHD, AYUHE), issued by Australian Unity Limited (AUL). This rating is the highest long-term rating in the intermediate category of creditworthiness on the rating scale of Australia Ratings (see the rating scale).The Bonds are unsecured debt obligations of the issuer,
AUL.
Australia Ratings also confirmed its product complexity indicator of ‘GREEN’ on the Bonds indicating that
Australia Ratings considers the Bonds to be a debt investment with simple and straight forward terms and conditions.
Australia Ratings has assigned its credit rating of ‘BBB+’ on the forthcoming Australian Unity Bonds (Bonds; ASX code:
AYUHE), issued by Australian Unity Limited (AUL). This rating is the highest long-term rating in the intermediate category of
creditworthiness on the rating scale of Australia Ratings (see the rating scale below). The Bonds will be unsecured debt obligations of the
issuer, AUL. At the same time, Australia Ratings reviewed and affirmed its credit rating of ‘BBB+’ on the existing series
of Australian Unity Bonds (ASX codes: AYUHC and AYUHD)
Australia Ratings also assigned and confirmed its product complexity indicator of ‘GREEN’ on the new and existing Bonds
respectively, indicating that Australia Ratings considers the Bonds to be a debt investment with simple and straightforward terms and
conditions.
Australia Ratings has reviewed and affirmed its credit rating of ‘BBB+’ on the Australian Unity Bonds (Bonds; ASX code:
AYUHC and AYUHD), issued by Australian Unity Limited (AUL). This rating is the highest long-term rating in the intermediate category of
creditworthiness on the rating scale of Australia Ratings (more details about the rating scale at www.australiaratings.com).
The Bonds are unsecured debt obligations of the issuer, AUL.
Australia Ratings also confirmed its product complexity indicator of ‘GREEN’ on the Bonds indicating that Australia Ratings
considers the Bonds to be a debt investment with simple and straight forward terms and conditions.
Australia Ratings Pty Ltd (Australia Ratings) has announced the sale of its investment ratings division, Australia Ratings Analytics Pty Ltd
(ARA) to Sydney-based Foresight Analytics and Ratings Pty Ltd (Foresight).
ARA was a division of Australia Ratings that assigned investment ratings to managed funds, separately managed accounts (SMAs) and insurance
bonds. The investment ratings staff of ARA have transitioned to Foresight and the investment rating service will continue to operate in a
similar manner albeit under its new brand of Foresight Analytics. Foresight Analytics and Ratings Pty Ltd is managed by Jay Kumar, a former
executive of Morningstar Australia.
Australia Ratings invites comments and submissions on the following proposed new criteria to be used in evaluating if capital instruments
issued by mutual institutions should be considered equivalent to ordinary equity in the credit risk analysis of the entity issuing the
capital instruments.
Submissions on the proposed criteria should be sent to info@australiaratings.com and be received by Monday 1 March 2021. It is expected
that Australia Ratings will publish a summary of any submissions received and final criteria on www.austrliaratings.com in March 2021.
11 November 2020 – Australian Unity Bonds AFFIRMED BBB+ Rating
Australia Ratings Analytics (Australia Ratings) has reviewed the Australian Unity Bonds, AYUHC and AYUHD (the Bonds), and has affirmed the
rating for both as BBB+, with a Product Complexity Rating of GREEN.
Australia Ratings’ analyst, Chris Cudsi, says “the rating reflects the conservative capital buffers maintained by Australian Unity, as well
as the issuer’s increasingly diverse business profile”. He added, “the rating will come under pressure if profitability or gearing metrics
deteriorate from levels reported in the 2020 financial year”.
FOR MORE INFORMATION, CONTACT:
Chris Cudsi, Director
chris.cudsi@australiaratings.com 03 8080 6684
