Ryde. University may sell bonds

Macquarie University said it may seek to sell bonds after receiving a first-time rating of Aa2 from Moody’s Investors Service. The university got the third-highest grade from Moody’s due to its “sound operating performance, positive liquidity level and strong market position,” and because the Australian government would likely offer financial support in a “crisis situation,” the ratings company said in a statement today. The university’s debt is forecast to peak at about A$357 million ($323 million) this year as it increases borrowings to help fund its capital program, according to Moody’s. “We are examining our financing options including the possibility of a bond sale.We should reach a decision in the next month,” said Greg Welsh, the university’media manager, in the Bloomberg BusinessWeek.

Wentworthville. 233 workers sacked at Bonds

Some 233 jobs will go in the manufacturing section of the Bonds factory in Wentworthville following its owner and clothing manufacturer, Pacific Brands, cutting 1850 jobs in Australia over 18 months, after posting a $150 million first-half loss. Four factories in the state account for about half of the 1200 manufacturing jobs to go, with another 650 head office jobs to be dropped by the Melbourne-based company.The jobs will go over the next 18 months. Merchandise will be sourced from China which currently supplies 75 per cent of Pacific Brands’ products. The Government said it would offer intensive job search assistance including a $1350 account to assist Job Network agencies prepare those retrenched for work.