Wholly owned and overseen by the Australian government, which also provides 100% of DHA's funding Long-term service agreement, which also codifies risks, with Defence Housing Australia's major customer, the Department of Defence (Defence) More than half of revenue streams are relatively stable and predictable, and sourced from the Australian government, directly or indirectly A capital program that relies on the success of the ongoing sale and leaseback of developed housing, and surplus property disposals A highly geared balance sheet, reflecting the inclusion of its off-balance sheet liabilities The ratings on Defence Housing Australia (DHA) are based on DHA's standalone-credit profile (SACP) of 'a-', as well as our assessment that there is an "extremely high" likelihood that extraordinary support would be
