Very strong capitalization, reflecting our expectation that Australian Unity Ltd. will inject capital as needed to support the business Low-risk residential mortgages dominate the loan book Likely to receive financial support from the parent, if needed Very small market share and limited competitive advantages in a commoditized, price-sensitive market Funding profile vulnerable to competitive pressures in a stressed operating environment The stable outlook reflects S&P Global Ratings' view that we are unlikely to change our ratings on Big Sky Building Society Ltd. (Big Sky) in the next two years. Even if there is a modest weakening or strengthening in its stand-alone credit profile (SACP) or its strategic importance to the parent group, Australian Unity Ltd. (AUL; not rated), we expect
