The credit quality of Australian companies continues to improve according to ANZ Investment Bank's Crystal Credit Quality Index, a quantitative index being introduced to Asian investors this week.
The index was launched in November last year and, according to its creators, shows Aussie credits moving further away from the likelihood of default. This is in contrast to the trend observed by the credit rating agencies which have reported a continued deterioration of Australian credits in recent years.
ANZ's head of credit research, Kate Birchall, is touring Asia this week to explain the index to regional fixed-income investors. Crystal provides an alternative benchmark that links the equity markets and the debt...
