UDC Finance's AA- credit rating at risk of being slashed on sale prospects, S&P says

Wed, 20 Apr 2016

By Jonathan Underhill April 21 (BusinessDesk) - UDC Finance's AA- credit rating was placed on CreditWatch Negative by Standard & Poor's pending its potential sale by Australia & New Zealand Banking Group and the likelihood of a weaker rating as a stand-alone business. UDC currently enjoys the same credit rating as its parent bank, which was expected to provide "timely financial support" if needed to the finance company, S&P said. It had previously assigned a stand-alone credit profile (SACP) on UDC of bbb-, or six notches below and the lo...

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