MELBOURNE (Standard & Poor's CreditWire) Feb. 2, 2001--Standard & Poor's today raised its long-term credit rating on Defence Housing Authority (DHA) to double-'A'-plus from double-'A'. The short-term credit rating is affirmed at 'A-1'-plus. The outlook on the long-term rating remains stable. "The rating upgrade reflects the signing of a services agreement between DHA and its major customer, the Department of Defence," said Brendan Flynn, associate director, Public Finance Ratings. "This formulates the relationship for the next 10 years and codifies the sharing of risks between DHA and the department." Under the agreement, DHA is required to bear the principal risks associated with delivery of housing to Defence-related personnel in metropolitan areas, where it is best placed to manage those risks.
