News

Allied Nationwide rating cut

Thursday 12th of August 2010

The finance unit of NZX-listed Allied Farmers withdrew its prospectus after trustee Guardian Trust said it was in breach of its trust deed. The parent company has said it disputes the breach and is in talks to try to placate the trustee.

S&P kept Allied Nationwide's rating on CreditWatch Negative, meaning there is a chance it could be cut again. The yield on Allied Farmers' NZX-liste...

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