Heartland's stronger asset quality, earnings earn Fitch upgrade

Tue, 28 Oct 2014

By Paul McBeth Oct. 29 (BusinessDesk) - Heartland Bank, which trades on the NZX as Heartland New Zealand, had its credit rating lifted a notch by Fitch Ratings, after the agency was impressed by its improved asset quality and stronger earnings. Fitch raised the Christchurch-based lender's long-term issuer default rating to BBB from BBB-minus, its short-term rating to F2 from F3 and its viability rating to bbb from bbb-minus, it said in a statement. Heartland's focus on niche lending markets, as opposed to residential mortgages, meant it g...

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