One of Fidelity Life's KiwiSaver funds is being buffeted by the same global financial forces which forced the liquidation of the $75 million NZDX-listed Fidelity Capital Guaranteed bonds last week.

Standard & Poor's has downgraded Heartland Building Society's outlook to negative from stable, saying its asset quality and earnings profile aren't consistent with its current BBB- rating.

This year's Mortgage Broker of the Year winner, Paul Fuller of the Prosper group, attributes his win to being “passionate to help my clients.”

Holders of the $75 million of Fidelity Capital Guaranteed Bonds will receive no more interest although they will get their capital back in mid-2013.

Blue Star Group's bondholders have approved the company's revised restructuring proposal.

Allied Farmers says it is unlikely to receive any funds when the assets of Matarangi Beach Estates are realised, leading to the probably write-off of the remaining $3.63 million in the company's books.

Recent havoc in global financial markets is likely to result in the $75 million of Fidelity Capital Guaranteed Bonds' future interest payments being suspended for a third time and could even force the fund's liquidation.

Heartland Building Society says it is considering a corporate bond issue and has mandated Westpac Bank to assess potential retail demand.

Blue Star Group's bankers are certain to put the company into receivership if bondholders reject the revised restructuring proposal next week, says chief executive Chris Mitchell.

Blue Star Group's major shareholders have bowed to bondholder anger at their restructuring proposal and are now offering concessions to induce bondholders to support their plan.

Heartland Building Society expects net profit for the year ending June 2012 will be between $20 million and $24 million following the acquisition of PGG Wrightson Finance.

The receivers of South Canterbury Finance say they have sold its 50% shareholding in Financial Synergy (FSL) which results in the full recovery of a loan.

Reserve Bank governor Alan Bollard took a bob-each-way approach to reviewing interest rates which has left economists and financial markets scratching their heads.

A number of Blue Star Group's bondholders are hopping mad at the "take-it-or-lose-all-your-money" deal they're being offered but the Financial Markets Authority (FMS) doesn't look likely to intervene.

Fisher & Paykel Finance is considering a number of options to diversify its funding base, including the possibility of issuing a retail bond.

Allied Farmers has been paid $2.45 million from Bridgecorp's receiver as final settlement of a loan made by Hanover which Allied Farmers had completely written off.