CREDIT: ALF: Allied Nationwide Finance - Credit Rating Update

8 Jun 2010 9:12 am

ALF 08/06/2010 CREDIT

REL: 0912 HRS Allied Farmers Limited

CREDIT: ALF: Allied Nationwide Finance - Credit Rating Update

Allied Nationwide Finance Limited, part of the NZX listed Allied Farmers group, advises that its long term issuer credit rating from Standard & Poor's has been lowered to B. At the same time, the 'B/B' issuer credit ratings were placed CreditWatch with negative implications.

John Mallon, Chief Executive of Allied Nationwide said, "While we are disappointed with the action taken by Standard & Poor's, we remain focussed on taking the necessary steps to improve our credit rating over time."

ENDS

For further information please contact:

John Mallon Tel: 027 473 2725 Chief Executive Allied Nationwide Finance Limited End CA:00195826 For:ALF Type:CREDIT Time:2010-06-08:09:12:08

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