Fitch: 67 Affirmations of Australian & New Zealand SF in 4Q13

(The following statement was released by the rating agency)

HONG KONG/SYDNEY, January 13 (Fitch) Fitch Ratings says that Australian 
structured finance (SF) transactions remained stable in 4Q13 as 67 tranches from 
29 transactions were affirmed as a result of continued good asset performance in 
Australia. 

Asset performance remained strong overall, reflecting the continuing robust 
economic performance, the rebound in the Australian housing market and 
expectations that an anticipated increase in arrears in 4Q13 and 1Q14 due to 
Christmas and holiday spending will be temporary.  

Prime RMBS notes accounted for most of the affirmations (57), followed by 
non-conforming RMBS (5) and auto loan and lease ABS (5). 

The 29 transactions reviewed in the quarter make up approximately 16% of the 181 
Fitch-rated Australian and New Zealand SF transactions outstanding at end 4Q13.

The Outlooks on Australian and New Zealand SF ratings remain Stable. 

Contacts:

James Zanesi

Director

+61 2 8256 0306

Fitch Australia Pty Ltd.

Level 15, 77 King St, Sydney, NSW 2000

Hilary Tan

Director 

+852 2263 9904

Fitch (Hong Kong) Limited

28/F, Tower Two, Lippo Centre

89 Queensway, Hong Kong 

Media Relations: Iselle Gonzalez, Sydney, Tel: +61 2 8256 0326, Email: 
iselle.gonzalez@fitchratings.com; Wai-Lun Wan, Hong Kong, Tel: +852 2263 9935, 
Email: wailun.wan@fitchratings.com.

Additional information is available at www.fitchratings.com.

Related Research:

"Fitch: Japanese SF Mostly Stable; One Upgrade in 4Q13" dated 14 January 2014

"Fitch: APAC SF Ratings and Outlooks Stable in 4Q13" dated 14 January 2014

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