The ratings on Defence Housing Australia (DHA) are based on DHA's stand-alone credit profile (SACP) of 'a-', as well as our assessment that there is an "extremely high" likelihood that extraordinary support would be forthcoming from the Australian government (Commonwealth of Australia; AAA/Stable/A-1+) should DHA experience an event of financial distress. In accordance with our criteria for government-related entities (GREs), our view of an "extremely high" likelihood of extraordinary support is based on our assessment of DHA's: "Very important" operational role in implementing the government's policies, particularly the provision of housing to members of the Australian Defence Force (ADF) "Integral" link with the Australian government, which owns DHA and which maintains an extensive governance framework. This provides extensive influence over
