...MELBOURNE (S&P Global Ratings) Feb. 9, 2017--S&P Global Ratings today said it has corrected its outlook on the '###' long-term issuer credit rating on Big Sky Building Society Ltd. (Big Sky) by revising it to stable from negative. The '###' long-term issuer credit rating is unchanged. On Oct. 31, 2016, we revised the rating outlooks on 25 Australian financial institutions to negative on rising private sector debt and property prices. At that time, we also inadvertently revised the outlook on Big Sky to negative. We believe Big Sky's parent, the diversified mutual group, Australian Unity Ltd. (AUL; not rated) is likely to provide financial support to Big Sky, if needed. This is because we consider Big Sky to be a strategically important member of the AUL group. We assess the AUL's group credit profile (GCP) as '###+', taking into account Big Sky's sister company, Australian Unity Health Ltd.'s (###+/Stable) stand-alone credit profile (SACP, which we assess as '###+') as the key driver of...
