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:

PYS - PaySauce to announce F26 full year results on 27 May 2026
PEB - Draft LCD Proposes Medicare Coverage for Triage and Triage
MEL - Meridian Energy monthly operating report for April 2026
FBU - Sale of South Australian property
AIR - Air New Zealand market update
May 14th Morning Report
PEB - Pacific Edge Placement Increased to NZ$25.4 Million
Radius Care Reports Earnings Growth and 50% Higher Dividend
May 13th Morning Report
Pacific Edge launches capital raise of NZ$24 million