
News
Two top finance companies junked
Thursday 13th of August 2009
Standard & Poor's has stripped both South Canterbury Finance and Marac of their investment grade ratings.
The research house yesterday lowered the ratings on both companies from BBB- to BB+ which takes them from "investment grade" to what S&P calls "speculative" but what others call "junk bond" status.
In making the announcements S&P released two remarkably similar pre...
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