NZ central bank scolds Rabobank for pulling credit rating

Fri, 07 Sep 2012

By Paul McBeth Sept 7 (BusinessDesk) - New Zealand's Reserve Bank sent a formal warning to the local subsidiary of Dutch agricultural lender Rabobank for briefly withdrawing its credit rating in July. The central bank warned Rabobank New Zealand for "failing to maintain a current rating of its creditworthiness, as required under Section 80 of the (Reserve Bank) Act," according to a statement on its website. On July 11, Standard & Poor's withdrew its AA rating on a negative outlook for Rabobank NZ at the lender's request, before reinstating i...

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