ANZ National, Westpac govt-guaranteed debt downgraded by Fitch

Fitch Ratings cut the debt ratings on government-guaranteed bonds issued by ANZ National Bank and Westpac Banking Corp to reflect last month’s downgrade of New Zealand’s sovereign rating.

The debt was lowered to AA from AA+, Fitch said in a statement. The downgrades cover US$2.4 billion of 2012 and 2014 bonds issued by ANZ National and $2.5 billion of Westpac bonds of similar maturities.

New Zealand’s foreign-currency debt rating was cut one notch to AA by Fitch last month and the nation was stripped of its AAA local currency rating by Standard & Poor’s, which cited high foreign debt and a fiscal position weakened by earthquake costs.

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

July 8th Morning Report
SUM - 2Q26 Metrics - Sales of Occupation Rights
BPG - Q1 FY27 Investor Webinar
KPG - Changes to the Executive Team
BRW - Scheme of Arrangement - Largest Shareholder Intention
FRW - Board update
THL - BGH Consortium confidentiality agreement executed
MEL - Meridian receives final approval on contingent storage
July 3rd Morning Report
KMD Brands completes share consolidation