GEN Announces a Credit Upgrade and a Strong Finish to 2022

General Capital Limited (GEN:NZ), the listed financial services group, announced that its wholly owned subsidiary, General Finance Limited, has seen its six-monthly audited accounts reviewed and rated by Equifax Australasia Credit Rating Pty Ltd with a BB rating and a Stable Outlook.

This follows the upgrade to a Positive Outlook earlier in the year.

The Chairman of the Board of Directors of the parent company, Mr. Rewi Bugo, commented that the rating upgrade is an excellent finish to a year which has seen a significant share placement, excellent profits, record profits for the six months to 30/9/2022, two new directors and a planned capital injection of 57% which will be put to a shareholder vote in January 2023.