Mortgage News

Kiwibank credit rating cut

Tuesday 30th of October 2012

S&P has lowered the credit rating of Kiwibank and its parent company, the state-owned enterprise NZ Post, by one level from AA- to A+ (outlook stable). Kiwibank’s short-term credit rating has also been lowered to A-1, while its standalone credit profile is unchanged at ’BBB’. The rating returns Kiwibank to one level below the large Australian banks. For the last eight months it had been at...

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