News

S&P slashes GFNZ credit rating to "currently highly vulnerable"

Thursday 23rd of August 2012

International ratings agency Standard & Poor's cut GFNZ's rating to "CC" from "CCC-" which had meant the company was "currently vulnerable and dependent on favorable business, financial and economic conditions to meet financial commitments," according to S&P ratings definitions.

While S&P has removed the company from negative credit watch, it says the outlook for the rating i...

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