S&P raises credit rating on Heartland Bank

Posted 22nd May 2014

Heartland New Zealand Limited is pleased to announce that Standard & Poor’s (S&P) has raised its long term issuer credit rating on HNZ subsidiary Heartland Bank Limited to ‘BBB’ from ‘BBB-’ and assigned a negative outlook. The negative outlook reflects the negative economic risk trend assigned to the New Zealand banking system and S&P’s concerns around economic imbalances, which are not specific to Heartland. S&P’s full report is attached.

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