Thursday 4th May 2023 |
Text too small? |
General Capital Limited (GEN:NZ), the listed financial services group, has today announced that its wholly owned subsidiary, General Finance Limited, has had its Credit Rating confirmed by the International Credit Rating Agency, Equifax Australasia Credit Rating Pty Ltd.
The Managing Director, Brent King, advised, "We normally get a credit rating review completed every 6 months after our results are released to the market. In response to the recent adverse developments in world banking markets, Equifax initiated a ratings review process of the industry”.
Equifax has advised General Finance “that based on the responses and feedback provided, we have determined that General Finance's Credit Rating and the outlook as issued currently remain unchanged."
Brent King said, "This is great news for investors. We have managed to retain our BB Credit Rating with a stable outlook even in these very unusual times. This is defined as being near prime with a low to moderate risk."
The Chair of the parent company General Capital, Mr. Rewi Bugo, stated, "We had a very positive 2022. General Capital worked hard to assist General Finance by providing new capital and governance support. We are pleased to see this being recognised by the experts and also by our shareholders. Nobody can accurately predict the future; however, the General Capital Group has positioned itself well for the next stage."
We will announce our accounts to 31/3/23 by the 29th of May 2023.
For further information contact:
Brent King
Managing Director
General Capital Limited
+64 21 632 660
Brent.King@gencap.co.nz
3 May 2023
END
No comments yet
Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes