Equifax reaffirms General Finance's stable BB rating

Global credit rating agency Equifax has reaffirmed the financial strength rating of General Capital's subsidiary, General Finance, as BB with a stable outlook.

The rating reflects General Finance's increased scale, healthy earnings, and sound capital and funding profile.

General Capital's chairman, Rewi Bugo, welcomed the confirmation from Equifax, stating it recognised General Finance's strong growth and ability to navigate the challenging macro-economic environment.

Managing director, Brent King, highlighted the importance of credit ratings for investors in the current market.

He also noted that General Finance's term deposits are covered by the Deposit Compensation Scheme, which is set to be introduced in July 2025.

General Capital is the only NZX-listed company that is a Reserve Bank of New Zealand-licensed non-bank deposit taker, and is both credit rated and covered by the DCS.