Fitch puts Westpac NZ on negative rating watch

Mon, 29 Mar 2021

Fitch Ratings has put Westpac New Zealand on a negative rating watch because of its Australian parent's plan to review the business.Fitch currently has an 'A+' foreign and local current long-term issuer default rating on Westpac NZ and a support rating of '1'."Westpac said on March 24 that it is considering the appropriate structure for its NZ business, and assessing whether a demerger would be in the best interests of shareholders," Fitch said."The assessment is still in the early stages and a decision is yet...

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