Affected corporate hybrid issuers respond to S&P methodology change [UPDATED]
- Wednesday, 03 April 2013
The long-awaited revised Standard & Poor's (S&P) methodology on assigning equity credit to corporate hybrids, which was published on April 2, has sent a pair of Australian issuers into damage control mode. Both the immediately affected firms – Santos and Tabcorp Holdings (Tabcorp) – immediately responded to negative rating actions, though taking differing approaches.
