Weekly Wrap: D for death row?

In the space of less than a few weeks the company has gone from a B+ Standard and Poor's rating to a D. I have no doubt that S&P's swift and significant downgrades have put Geneva on death row. Hopefully it will get a pardon and survive these actions.

The issue of the downgrades is something discussed in this Blog. I would be interested in your thoughts on what has happened here, and whether it could happen to other finance companies.

Another story which had a touch of disappointment to it was the decision not to include BT New Zealand in the share float later this year. It would have been nice to see the company included in the IPO. For the most detailed story on what has happened click here.

On a more positive note, today we have a list of the finalists in this year's FundSource Fund Manager of the Year Awards. Read this story to see who is in line for a gong.

Finance company news and changes in this sector never seem to be far away from the headlines. Another story, which is exclusive to Good Returns, is that trustees will have to disclose to the Securities Commission, on a regular basis, details of what their clients are up to, along with statistics. This information is going to give a far greater insight into what is happening in the finance company sector.

Geneva given a tough assignment Poor old Geneva Finance. Last week I mentioned in the Good Returns Weekly Wrap that Standard and Poor's two-notch downgrade of the company, from B+ to B- seemed like pretty rough treatment from the rating agency. [more]

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