close
MENU
0 mins to read

PGG Wrightson Finance applies for scheme extension

PGG Wrightson Finance said it had lodged an application to join the Crown's extended retail deposit guarantee scheme.The finance company received a BB rating from Standard & Poor's last month. Finance companies must have a BB rating or above to be eli

NZPA
Mon, 01 Mar 2010

PGG Wrightson Finance said it had lodged an application to join the Crown's extended retail deposit guarantee scheme.

The finance company received a BB rating from Standard & Poor's last month. Finance companies must have a BB rating or above to be eligible for the extension of the scheme.

After accounting adjustments and an increase of $3.1 million in provisions for impaired assets, profit after tax for the six months to December 31 was $3.3 million compared with $4.7 million in the previous corresponding period.

All finance companies are required to have a credit rating by March 1 under new Reserve Bank of New Zealand non-bank deposit taking regulations.

NZPA
Mon, 01 Mar 2010
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
PGG Wrightson Finance applies for scheme extension
3043
false