Melbourne, 16 November 2018 – Australia Ratings has announced it has withdrawn the credit ratings of certain ASX listed debt securities previously rated under the sponsorship of the ASX’s Research Scheme. The move follows the ASX’s decision to not continue funding credit ratings of listed debt and hybrid securities under its Research Scheme.
Australia Ratings’ Managing Director, Chris Dalton, said “While some ratings will be maintained, certain research and ratings of ASX-listed hybrid securities have been withdrawn.” Dalton continued “those we continue to rate will include the Australian Government treasury bonds and indexed bonds.” He added “Australia Ratings will continue to rate debt securities when requested by issuers or others”.
Investors can continue to benefit from independent assessment of the credit quality of listed debt and hybrid securities together with the product complexity indicator (PCI). The PCI will give investors a clear and simple guide to the complexity of the security and will complement the credit rating of the security. Reports remain freely available on the Australia Ratings website for investors to download.
Australia Ratings was selected by the Australian Securities Exchange (ASX) in 2014 to assign credit ratings and product complexity indicators to debt and hybrid securities listed on the ASX. The scheme was an initiative of the ASX and aimed to incentivise greater levels of research, available to not only wholesale but also retail investors, on ASX quoted debt and hybrid securities including the assignment of credit ratings to all debt and hybrid securities traded on ASX.
Australia Ratings is the only credit rating agency in Australia holding a retail Australian Financial Services Licence (AFSL) issued by the Australian Securities and Investments Commission (ASIC). As such, it is the only ratings agency in Australia licensed to assign credit ratings to debt securities and products offered to retail investors in Australia.
Further information is available from www.australiaratings.com.
FOR MORE INFORMATION CONTACT:
Chris Dalton, Managing Director, Australia Ratings
firstname.lastname@example.org 03 8080 6684