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Credit Ratings

ASB notes to pay 6.65% interest rate

Up to $400m worth of ASB debt securities with 'similar risks to shares without the growth opportunity' to pay 6.65% pa for 5 years

SuperCity looks for 'savings and efficiencies'

Auckland Council seeks up to $200m in 10-year bond issue as Mayor Len Brown says 'we don’t have a blank cheque to fund Auckland’s growth'

Implicit govt guarantee for SOEs gone?

Solid Energy debt restructure 'one of the most significant banking sector events of recent years'

Spotlight on NZ covered bonds

NZ banks now have $20b of assets, including 143,627 home loans, guaranteeing covered bonds

S&P warns of dangers of house price inflation

Standard & Poor's says NZ's rising house prices could lead to a sharp fall if there's an external economic shock

Co-op Bank swaps S&P for Fitch

Standard & Poor's withdraws its Co-operative Bank credit rating at the bank's request; Co-operative Bank has new BBB- rating from Fitch

Co-op Bank gets BBB- Fitch rating

Fitch Ratings assigns investment grade credit rating to the Co-operative Bank, says profitability is likely to improve

NZ banks at 34% covered bond capacity

Moody's sees benefits for covered bondholders in RBNZ's restrictions on NZ banks' high LVR residential mortgage lending

Jobs growth surprise in the US

US jobs growth and positive prior revisions push NZ$ lower; France gets its credit rating cut, China exports more, gold falls

Chorus loans from 4 banks unsecured

Disgruntled Solid Energy lender Bank of Tokyo Mitsubishi also among Chorus' banks owed more than $1b