
News
South Canterbury sweating on liquidity
Friday 5th of March 2010
S&P downgraded the Timaru-based finance company this week to BB from BB+, and put it on a creditwatch negative, giving the firm a 50:50 chance of a further downgrade in the next 90 days.
Credit analyst Derryl D'Silva told depositrates.co.nz that the company's liquidity was the main cause for the negative outlook, and that the government guarantee had caused a lot of debt to fall due...
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