Kiwibank, TSB keep credit ratings

File photo / Richard Robinson
File photo / Richard Robinson

Community-owned TSB Bank and state-owned Kiwibank have retained their credit ratings after the latest round of revisions conducted by Standard and Poor's under its ratings criteria for banks.

S&P said the rating on New Plymouth-based TSB will remain at BBB plus, with a stable outlook.

The rating on KiwiBank will stay at AA minus, also with a stable outlook.

NZX-listed Heartland, which has ambitions to obtain a banking licence, kept its investment-grade BBB minus rating, but the company's ratings outlook improved from "negative" to "stable".

Last week, Australia's big four banks - National Australia Bank, Westpac, Commonwealth Bank of Australia and ANZ - and their New Zealand offshoots, were downgraded by S&P to AA minus from AA.

- APNZ

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