Monday 24th April 2023 |
Text too small? |
Global credit rating agency AM Best has reaffirmed Tower Limited’s Financial Strength Rating as A- (Excellent), with a stable outlook, after completing its annual review. Tower’s Long-Term Issuer Credit Rating was also affirmed as a- (Excellent), with a stable outlook.
The ratings reflect Tower’s balance sheet strength, which AM Best assesses as very strong, as well as its operating performance, business profile and enterprise risk management. AM Best also noted Tower’s prudent capital management and that AM Best expects Tower’s risk-adjusted capitalisation to remain at least at the very strong level over the medium term.
Tower Chair, Michael Stiassny said this confirmation recognises Tower’s strong performance as it remains resilient following recent large events while continuing to support customers and communities.
ENDS
This announcement has been authorised by Blair Turnbull, Chief Executive Officer, Tower Limited.
For media enquiries, please contact in the first instance:
Emily Davies
Head of Corporate Affairs and Sustainability
+64 21 815 149
emily.davies@tower.co.nz
No comments yet
Fletcher Building Announces Director Appointment
Meridian issues new demand response exercise notice to NZAS
CRP - Chatham Closes Private Placement of Shares
General Finance - Olympic Term Deposit Promotion featuring a Special Bonus of 0.1%
July 22nd Morning Report
VCT - Operational performance for the year ended 30 June 2024
Challenge to banks the way to go
Bigger returns or lower risk?
NPH - Director Appointment
July 19th Morning Report