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UDC gets top fin coy rating

Thursday 5th April 2007

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UDC Finance has had its Standard and Poor's credit rating increased from an AA- to AA.

The AA credit rating is the highest of any New Zealand finance company accepting money from investors. S&P says it reflects the company’s material position within ANZ National, its strong brand and market profile, and good depth of senior management team.

“It’s a great result for us and our investors, as it acknowledges that we’re in a very strong position as we drive forward with a number of improvements to our business,” UDC General Manager Malcolm Tilbrook says.

Standard & Poor’s credit ratings are based on a comprehensive independent assessment of a company taking into account both business and financial risks. Ratings of BB and below are regarded as having significant speculative characteristics.

“A strong credit rating is a very good indicator of the certainty of your investment,” Tilbrook said.

To check and compare rates go to leading interest rate site

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