Very strong capitalization Low-risk residential mortgages dominate the loan-book 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 our view that Big Sky Building Society Ltd.'s (Big Sky) rating should remain unchanged in the next two years even if there is a modest weakening in its stand-alone credit profile (SACP), because we expect that it would be offset by a ratings uplift reflecting support from the Australian Unity Ltd. (AUL; not rated) group. Furthermore, we believe that Big Sky's SACP is unlikely to weaken in this period because we expect that the building society will retain its focus on providing well-secured
