Fisher & Paykel Appliances' finance company has been accepted into the government's extended deposit guarantee scheme, effective from October 12 to the end of December 2011. The company was assigned a BB long-term issuer credit rating, with a sta
Fisher & Paykel Appliances' finance company has been accepted into the government's extended deposit guarantee scheme, effective from October 12 to the end of December 2011.
The company was assigned a BB long-term issuer credit rating, with a stable outlook, by Standard&Poor's in February, which it needed to qualify for the government scheme.
Fisher&Paykel Finance Ltd would offer guaranteed and non-guaranteed deposits to provide choice to investors, F&P Finance managing director Alastair Macfarlane said.
Debenture reinvestment by investors remained at a satisfactory level, and was key to diversifying funding for the business, he said.
F&P has offered retail debentures for nearly 30 years in the New Zealand market.
The finance business was funded by both retail deposits and wholesale facilities.
