triple a rating, page-4

good to see that it meets the distribution estimate from their correspondence to the asx on 18/3. you want this type of predictabilty with buy and hold income funds. investors participating in the dividend redistribution plan pick up a healthy 11.5% premium based on the current .20 price, given the .1795 redistribution price.

anyway, i am growing more confident that the market will wake up to this stock sometime and the share price will settle between .35-.45 based on the most recent nta, the fund's relatively conservative portfolio parameters and investment guidelines that maintain diversification and credit quality (which was noted as a strength in the S&P report), and reflecting future funding risks. The S&P ratings report appears quietly confident (starting at the bottom of page 5) that refinancing the note purchasing facility will likely not cause a major disruption to axq's operations.