Fitch trims Kiwibank

Fitch Ratings said it downgraded Kiwibank Ltd.'s guaranteed senior unsecured debt ratings by one notch to AA from AA+ and resolved the rating watch negative issue.

“The guaranteed debt ratings were first placed on RWN in August following an error by Fitch, which erroneously equalized the ratings with those of the New Zealand sovereign, despite the guarantor being New Zealand Post Limited and Fitch not assessing the creditworthiness of the guarantor,” said the agency in a press release.

Kiwibank’s other ratings are unchanged, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.