S&P lowers Asset Finance's credit rating to "B-"

Mon, 18 Mar 2019

By Jenny Ruth March 18 (BusinessDesk) - International ratings agency Standard & Poor’s Corp says it has lowered Asset Finance’s credit rating to "B-" following its changing ownership. London-based Blackstar Capital Group, which was founded in 2011, bought 82 percent of the Whakatane-based Asset Finance in September last year. The downgrade is despite no change to Asset Finance’s stand-alone rating “reflecting the largely stable business and financial strategy of the finance company,” S&P says. When the sale was announced last Septem...

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