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
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.
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