Tuesday 11th July 2006 |
Text too small? |
PIR was commissioned by financial planning firm Northplan to rate a selection of New Zealand non­-bank finance companies late last year. Bridgecorp was awarded a PIR 4 star security rating. This is the highest rating awarded to any New Zealand finance company reviewed by PIR. A security rating below 2.5 stars is not considered investment grade.
The PIR Security Rating system is applied to debt based property investments such as mortgage and mezzanine funds and debenture or note offers (secured or unsecured). It assesses a range of risk/return factors associated with the funds as well as the ability of the manager to manage arrears and defaults.
To produce a ratings report, PIR utilises a rigorous system based on an enhanced evaluation model, a comprehensive review of due diligence material and offer documentation, property inspections where appropriate, specialist interviews of management and a compliance review.
"As we move into a climate where ratings are a significant differentiator between finance companies, it is pleasing to see Bridgecorp achieve another consistent result from a respected and established ratings organisation," Bridgecorp managing director Rod Petricevic said.
Related links:
Good Returns - Phil's Blog 'Best own Goal'
http://blog.goodreturns.co.nz/post/1/93
Deposit Rates
More finance company research coming
http://www.depositrates.co.nz/article/976491830.html
No comments yet
June 25th Morning Report
NWF - NZ Windfarms shareholders approve Meridian acquisition
GMT - GMT and GMT Bond Issuer Limited 2025 Annual Report
VSL - Vulcan extends its banking arrangement
FBU - Fletcher Building Investor Day
June 24th Morning Report
DOW - Retirement and appointment of Non-Executive Directors
TWL - TradeWindow raises $600k in placement to accelerate growth
Ryman announces new Chief Financial Officer
Spark accepts offer for HTAL shareholding