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Up one levelIncreased debt funding provided for South Canterbury Finance, Early debenture rollovers top $170 million
Crown guarantee and SCF Turnaround Unaffected by Ratings Review
South Canterbury Finance Limited today confirmed that the ratings agency Standard & Poor’s has affirmed its short term credit rating of B, removed the Creditwatch Negative outlook and adjusted the long term rating to B+. The outlook for both ratings has been set at Creditwatch Developing.
Allan Hubbard Appointed as SCF President for Life
Allan Hubbard accepts appointment as President for Life of South Canterbury Finance
Appointment of Group Treasurer
South Canterbury Finance Limited is pleased to announce the appointment of Greg Pearse as Group Treasurer.
Bernard Hickey talks to South Canterbury CEO Sandy Maier
South Canterbury Finance Chief Executive Sandy Maier has talked up the prospect of splitting South Canterbury’s delinquent loans off into a ‘bad bank’, which would create a ‘good bank’ with enough capital to satisfy Reserve Bank capital adequacy rules due to kick in later this year. He was speaking after the release of South Canterbury’s prospectus last week.
Allan Hubbard Letter to Investors
Much has happened in the last 18 months. The global financial crisis has challenged fundamentals, shaken confidence and few organisations have emerged totally unscathed. Many, particularly in the finance sector, have ceased to operate or have reduced their activities.
