Heartland targeting on agri, car lending wins rating upgrade by S&P

Heartland targeting on agri, car lending wins rating upgrade by S&P
By Paul McBeth May. 22 (BusinessDesk) - Heartland Bank, which trades on the NZX as Heartland New Zealand, had its credit rating upgraded a notch by Standard & Poor's after the rating agency was impressed by the bank's decision to focus lending in certain markets. S&P raised the Christchurch-based lender's long-term issuer credit rating to BBB from BBB-, while retaining a negative outlook based on New Zealand's exposure to economic imbalances, it said in a statement yesterday. Heartland's stronger business position and transition towards n...