subscribe to our newsletter

Bluestone receives upgraded S&P rating

S&P has upgraded the non-bank’s servicer rating off the back of an operational overhaul.

Bluestone has announced that S&P has upgraded its servicer rating from “above average” to “strong”, off the back of an operational overhaul.

According to Bluestone, its new “strong” rating now represents the highest rating a residential mortgage-backed security (RMBS) issuer can achieve.

The non-bank lender credits its “extensive operational improvements” and “significant investments” in IT systems and corporate infrastructure as contributors to the improved S&P rating.

Bluestone CFO Todd Lawler said: “Achieving a ‘strong’ rating is a significant milestone as it validates the many improvements made by our funding and operational teams, and the support of our parent company to invest in our long-term growth and stability.  


“We are proud of this achievement and look forward to continuing to service our investors and customers to the highest standards.”

The announcement comes off the back of Bluestone’s two RMBS transactions in 2019 under its Sapphire program.

In April, Bluestone completed its first securitisation in 2019 with a $400-million Sapphire XXI 2019-1 RMBS issuance, which was the lender’s first CRD IV-compliant deal, opening it up to a new international investor base, which the lender said resulted in “unprecedented investor support”.

Its second securitisation in 2019 was completed in September to the sum of $450 million, and reportedly incorporated a higher percentage of prime and near prime loans compared with previous pools, appealing to a broad range of investors.

Bluestone CEO Campbell Smyth said, “Over the past 18 months, Bluestone has seen transformational changes that have allowed us to expand our operations across APAC significantly. 


“Today’s upgraded rating is particularly validating as it confirms that our strong home loan growth is matched by ever-increasing levels of quality.”

[Related: Bluestone secures $450m RMBS]

Bluestone receives upgraded S&P rating

Are you a new-to-industry broker in the process of growing your business? Then there’s some great news: The Adviser’s New Broker Academy is back in 2021 and will provide you with essential insights into cutting-edge tools, strategies and processes to fast-track to success. Don’t miss your chance to attend. To secure your FREE place, visit newbroker.com.au now!

Hannah Dowling

Hannah Dowling is a journalist for mortgage business, the leading source of news, opinion and strategy for professionals working in the mortgage industry.

Prior to joining the team at Mortgage Business, Hannah worked as a content producer for a podcast catering to property investors. She also spent 6 years working in the real estate sector at a local agency. 

Hannah graduated from Macquarie University with a Bachelor of Media and Journalism. 

You can email Hannah at: This email address is being protected from spambots. You need JavaScript enabled to view it.

Latest News

Risks to financial stability could be building as house prices and debt levels keep rising, the Reserve Bank has cautioned. ...

The big four bank has unveiled its response to past regulatory issues, a program meant to improve its risk management and accountability.  ...

The proposed acquisition of Westpac PNG and Westpac Fiji by Kina will no longer proceed, it has been confirmed. ...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.