Lonsec signs data deal with Rapid Ratings
Industry research houseLonsdale Securities(Lonsec) has signed an agreement with corporate credit ratings agency Rapid Ratings to provide it with credit ratings on the issuers of Australian listed fixed-income investments.
The deal will involve Rapid Ratings supplying Lonsec with bi-monthly corporate credit and issue ratings for bonds, debentures and capital notes for a range of companies.
Lonsec managing director Norman Graham says investment advisers and investors are demanding more rigorous investigation and analysis of all types of securities as a result of the perceived poor performance of managed funds.
“By combining Rapid Ratings’ approach to and coverage of companies and issues, Lonsec has been able to develop a unique service to the market. We have combined their quantitative-based independent and objective credit ratings with our own qualitative assessments of listed [fixed] income investments,” Graham says.
The deal with Rapid Ratings was finalised in preparation for Lonsec’s release of a new research publication that is to cover income securities, convertible notes, and convertible preference shares.
Rapid Ratings managing director Patrick Caragata says the corporate bond market has heated up in recent months due to uncertainty in the equities market.
“It highlights the growing need in the Australian market for a professional, independent rating service with broad coverage,” he says.
Caragata says Rapid Ratings’ software enables it to assess and rate thousands of companies quickly and cost-effectively.
Recommended for you
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
HLB Mann Judd Perth has announced its acquisition of a WA business advisory firm, growing its presence in the region, along with 10 appointments across the firm’s national network.
Unregistered managed investment scheme operator Chris Marco has been sentenced after being found guilty of 43 fraud charges, receiving the highest sentence imposed by an Australian court regarding an ASIC criminal investigation.
