| Details | |||
|---|---|---|---|
| Website | BNZ Income Securities | ||
| Credit Agency Name | Credit Rating | Outlook | |
| Corporate credit rating(s) | Standard & Poors (S&P) | AA- | Stable |
| Moody's Investors Services | Aa3 | Stable | |
| Description |
BNZ Income Securities (BNZIS) is a special purpose vehicle that issues perpetual non-cumulative shares, makes loans to BNZ Income Management (BNZIM), receives payements on those loans, pays dividends to holders of perpetual non-cumulative shares and pays other costs and expenses in relation to the issue of perpetual non-cumulative shares and other operating expenses and income and other tax payments.
BNZIS is a Portfolio Listed Company for NZ tax purposes. BNZIM invests the proceeds of the loans from BNZIS in perpetual non-cumulative preference shares issued by BNZ.
The corporate credit rating(s) shown below is that of BNZ. |
