Bond Bonds get S&P rating
Bonus Bonds has received the first AAAf* fund credit quality rating in New Zealand by ratings agency Standard & Poor’s.
Thursday, January 18th 2007, 7:03AM
"Bonus Bonds have always been responsibly managed and now we have an independent Standard & Poor’s fund credit rating to indicate just how careful we are with bondholders’ savings," Head of Bonus Bonds Mark Pickering said.
Bonus Bond holders’ savings are pooled and invested to provide for over $6 million in tax-paid prizes every month.
"We know that bondholders want to have fun with some of their savings," Pickering said. "Maintaining a strong rating helps bondholders sit back and enjoy the prize draws each month."
The Bonus Bonds Trust invests in a portfolio of lower-risk debt securities, currently including Government securities, selected local body securities, selected corporate bonds, and securities issued by registered banks.
Standard & Poor’s has assigned an AAAf* rating on the Bonus Bonds Trust which indicates that the trust’s portfolio holdings provide extremely strong protection against losses from credit defaults.
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