Fitch keeps Kiwibank on negative watch pending shareholding decision

Mon, 20 Jun 2016

By Edwin Mitson June 20 (BusinessDesk) - Fitch Ratings has kept state-owned Kiwibank on negative rating watch during its annual review of the lender's credit rating. A negative rating watch means the credit agency is more likely to downgrade the bank's credit rating in the future, which would make it more expensive for Kiwibank to borrow. Fitch is concerned the restructuring of Kiwibank, which would see owner New Zealand Post sell a 45 percent share to the New Zealand Superannuation Fund and the Accident Compensation Corp, will remove an...

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