(3 February 2012 – New Zealand) On Tuesday Standard & Poor’s reassessed New Zealand’s Kiwibank.It confirmed the banks credit rating at AA-, the same rating as the Australian-owned banks operating in New Zealand.
However, the outlook for the bank was amended from stable to negative.
Kiwibank Chief Executive Paul Brock said the change in the rating outlook follows a review of the credit rating of Kiwibank’s owner, New Zealand Post.
“New Zealand Post’s rating has been affirmed as AA- but with a negative outlook. This is automatically passed through to Kiwibank,” Mr Brock said.