Kiwibank growth plans are potential risk to new AA credit rating, Fitch says

Wed, 13 Jun 2012

By Paul McBeth June 14 (BusinessDesk) - State-owned lender Kiwibank's plans to grab more of New Zealand's market are a potential risk to its newly assigned double-A ratings, according to Fitch Ratings. The rating agency issued an 'AA' long-term, foreign currency issuer default rating with a stable outlook to the lender. The rating reflects Kiwibank’s parent NZ Post, the government-owned postal service. Kiwibank’s credit rating could be threatened if the lender tries to grow too fast, Fitch said. It has about 5 percent of the local market an...

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