September 30, 2009

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News
Meridian's bond issue won't dent demand for high-grade corporate debt
A new retail bond issue from state-owned Meridian Energy is unlikely to dent demand for high-grade corporate bonds, which remains strong in the face of historically low interest rates. More


Credit Union Auckland seeks credit rating to protect reputation
Credit Union Auckland will seek a credit rating to protect its reputation, despite falling outside the criteria for the central bank's non-bank deposit takers' prudential regime. More



Avanti Finance gets rating from S&P
Finance company Avanti Finance has been given a BB- rating by Standard & Poor's, and a negative outlook. More



ANZ to mop up the rest of ING
ANZ has moved to acquire the 49% of ING in Australia and New Zealand that it doesn't already own for A$1.76 billion. More


Moratoria slow-death for finance companies rather than quick: Diplock
Securities Commission chairman Jane Diplock has lamented investors' unwillingness to cut their losses and walk away from failed ventures, resulting in a number of finance companies going into moratorium when receivership would have been a better option. More


Banks deposits and managed funds win over fin coys
More than half of New Zealanders are not confident their money would be safe with a finance company, according to the new RaboPlus Financial Confidence Index, which reveals that confidence in the sector has been badly battered. More