Business Services Industry
Risks posed by debt surge at the big end of town.
Australasian Business Intelligence, April, 2007
Byline: Eric Johnston
Apr 22, 2007 (The Australian Financial Review - ABIX via COMTEX) -- A report by ABN Amro and Dun & Bradstreet has suggested that corporate debt may reach $A520m in 2007. The trend demonstrates a shift in risk, with a large increase in corporate defaults in contrast to lower debt levels in recent times. In late 2006, six per cent of 100,000 Australian companies were classified as a high to severe risk. This has increased to eight per cent in April 2007. Interest rate rises and private equity threats have caused the increase in corporate lending. Agribusiness and construction are the most significantly affected. However, bankers are convinced that asset quality will remain strong.
Publication Date: 23 April 2007
ABN AMRO...
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