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

Get the news delivered straight to your inbox

Receive the day’s news, sport and entertainment in our daily email newsletter

SIGN UP NOW

© Copyright 2016, NZME. Publishing Limited

Assembled by: (static) on production bpcf03 at 28 Jul 2016 08:37:51 Processing Time: 224ms