S&P SAYS AUSTRALIA ON TRACK TO EXCEED 2001 DEBT ISSUANCE LEVELS.

AsiaPulse News, July, 2002

SYDNEY, July 3 Asia Pulse - Ratings agency Standard & Poor's (S&P) said today Australia was still on track to exceed 2001 debt issuance levels, with A$7.7 billion (US$4.32 billion) of securities issued during the second quarter.

In its quarterly roundup on the Australian and New Zealand securitisation market ending June 30, S&P said, however, that the pace of the growth would likely slow.

Research group Dealogic has also noted in its debt review that Australian dollar domestic bonds have increased volumes slightly in the half year to June compared with the first half 2001, to total US$7.19 billion (A$12.823 billion) of issuance.

Asset backed or mortgage backed bonds constituted 48.9 per cent of that turnover.

Dealogic said the top...