Powered by MOMENTUM MEDIA
subscribe to our newsletter

NAB's credit ratings remain unchanged

Standard & Poor’s has announced that its ratings for some of NAB’s residential mortgage-backed securities (RMBS) are unchanged following the bank’s reclassification of property data.

The credit ratings agency said RMBS issued by Perpetual Trustees as a trustee for National RMBS Trust 2010-1, National RMBS Trust 2011-1 and National RMBS Trust 2012-2 are unchanged after NAB recently announced that it had reclassified property occupancy data as part of its reporting obligations.

Under the reclassification, Standard & Poor’s said NAB has decreased the proportion of owner-occupied loans and correspondingly increased the proportion of reported investor loans.

“The level of respective credit enhancement available in each transaction is sufficient to absorb the increased investment loan exposure,” it said.

“As such, the reclassification will not in and of itself result in a lowering, withdrawal, or qualification of the outstanding ratings of the aforementioned transactions.”

Advertisement
Advertisement

PROMOTED CONTENT


NAB's credit ratings remain unchanged
mortgagebusiness

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.