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NZF facing the prospect of default
Friday 22nd of July 2011
On the back of FMA's action Standard & Poor's has cut NZF Money's rating to "CC" from "CCC-," saying "unless NZF is able to inject new funds into the business the company will likely default on its debt obligations next week."
Late yesterday, FMA chief executive Sean Hughes said the withdrawal followed an FMA investigation which "revealed matters of concer...
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