Deal and ratings review, week ending August 3 2012

Although Australian dollar deal flow slowed down in the first week of August, the return of Queensland Treasury Corporation to syndicated benchmark issuance on August 1 helped keep issuance volume healthy. International deal flow also returned to New Zealand's market as World Bank priced the largest Kauri transaction since 2007, and while the Australian securitisation market remained quiet no fewer than three deals received preliminary ratings.