KiwiBank faces marginally lower funding costs as mortgage competition rises

Thu, 15 Jan 2015

By Fiona Rotherham Jan. 15 (BusinessDesk) - KiwiBank, the state-owned lender, is likely to face marginally lower funding costs as mortgage competition heats up, following an improved credit rating by international ratings agency Fitch Ratings. The bank refused comment on Fitch's upgrade to a AA rating with a positive outlook from a AA rating with a stable outlook, saying it consistently provides no response to ratings from any of the three agencies, Fitch, Moody’s Investors Service and Standard & Poor’s, when they are released. The lat...

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