S&P affirms Kiwibank rating – changes outlook

Kiwibank’s credit rating has been confirmed at AA- by international credit rating agency Standard & Poor’s. This is the same rating as the Australian-owned banks operating in New Zealand. However, the outlook for the bank has been amended from stable to negative.

Kiwibank Chief Executive Paul Brock said the change in the rating outlook follows a review of the credit rating of Kiwibank’s owner, New Zealand Post.

“New Zealand Post’s rating has been affirmed as AA- but with a negative outlook. This is automatically passed through to Kiwibank,” Mr Brock said.

For further information: Bruce Thompson, Communications Manager (04) 460 6831