NZF Group has missed yet another deadline for announcing a deal with much-needed equity partners.

Standard & Poor's has raised GFNZ Group's credit rating as promised, but only to one notch below the rating it held until March 18.

Floating mortgage rates won't be rising any time soon with Reserve Bank governor Alan Bollard holding interest rates steady and emphasising the uncertain economic outlook means they will stay there for some time.

Floating mortgage rates won't be rising any time soon with Reserve Bank governor Alan Bollard holding interest rates steady and emphasising the uncertain economic outlook means they will stay there for some time.

Reserve Bank governor Alan Bollard is likely to leave interest rates unchanged this Thursday and the focus will be on how upbeat or otherwise his comments are.

Treasury officials were predicting South Canterbury Finance's (SCF) collapse even before SCF was approved entry to the government's extended retail deposit guarantee scheme on April 1 last year.

South Canterbury Finance's receivers say they hope to sell the company's “good bank” business by mid-year.

Jenny Ruth looks at the Genesis Energy bonds and compares them with other options available on the market.

South Canterbury Finance's (SCF) receivers have sold Helicopters New Zealand for about $160 million to Canadian Helicopters.

Allied Farmers (ALF) is unlikely to be able to repay $7.5 million owed its former finance company by the July 1 due date but is hoping its improving rural business will allow it to avoid receivership.

Following NZF Group selling out, consumer lending specialist Finance Direct will mainly focus on its brokerage business, including mortgage broking, although it continues to maintain a small finance company.

Standard & Poor's has rated Genesis Energy's proposed 30-year capital bonds issue a “BB-” rating, three notches below what is usually regarded as investment grade.

Allied Farmers (ALF) is embroiled in yet another dispute over a former Hanover asset, this time over a $7 million guarantee it gave when it sold a Hanover loan in September last year but for which Allied still hasn't received payment.

Standard & Poor's has cut its ratings of Geneva Finance from “CC” to “SD,” or selective default, because of its debt-for-equity swap but is likely to upgrade the company again soon.

The Public Trust has started dealing with mortgage brokers again and is now targeting “middle New Zealand, the typical Ma and Pa” borrowers.

The government now expects its retail deposit guarantee scheme will cost it about $1.2 billion, up from its previous $900 million estimate, largely because of lower related party loan recoveries from the receivership of South Canterbury Finance.