NEW AND EXISTING AUSTRALIAN UNITY BONDS RATED ‘BBB+’

29 Oct '23

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.

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RATING OF AUSTRALIAN UNITY BONDS REVIEWED AND AFFIRMED AT ‘BBB+’

29 Nov '22

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.

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AUSTRALIA RATINGS ANNOUNCES SALE OF INVESTMENT RATINGS DIVISION TO FORESIGHT ANALYTICS

15 Mar '21

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.

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REQUEST FOR COMMENT - Equity capital treatment of Mutual Capital Instruments (MCI)

29 Jan '21

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.

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AUSTRALIAN UNITY BONDS AFFIRMED BBB+ RATING

10 Nov '20

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

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