Fitch affirms AA- credit ratings for big four NZ banks

Wed, 25 Feb 2015

By Paul McBeth Feb. 25 (BusinessDesk) - Fitch Ratings, the global rating agency, affirmed the credit ratings of New Zealand's four major Australian-owned banks, saying they have conservative risk appetite, strong profitability and sound asset quality that's expected to continue through this year. The AA- credit ratings with stable outlook for ANZ Bank New Zealand, ASB Bank, Bank of New Zealand and Westpac New Zealand were affirmed in the Fitch review, which said if any of the lenders needed support, there was an extremely high likelihood...

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