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
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
