2009

New Zealand-Based Asset Finance Ltd. Assigned ‘B/B’ Ratings; Outlook Negative On Susceptible Business Profile

Melbourne, Dec. 22, 2009 —Standard & Poor’s Ratings Services said today it had assigned its ‘B’ long-term counterparty credit ratings to Asset Finance Ltd. (AFL), a privately owned finance company based in Whakatane, New Zealand. We also assigned our ‘B’ short-term counterparty credit rating. The outlook is negative, which recognizes AFL’s vulnerability to asset quality and liquidity pressures in the current
difficult operating environment.

NZI Business (video): Asset Finance looks to exit deposit guarantee scheme

Asset Finance Chairman David Houldsworth appeared on NZI business to discuss Asset Finance's decision to exist the deposit guarantee scheme.

Click the link below to open a new browser window and view the video on the TVNZ website.

NZI Business October 27: Asset Finance looks to exit deposit guarantee scheme (3:21)

Asset Finance seeks to exit the Government’s Retail Deposit Guarantee Scheme

Whakatane, Oct. 19, 2009 — Asset Finance Limited (Asset Finance), a consumer and business finance company operating within the Non-Bank Deposit Taking (NBDT) sector, has, in communications dated and sent 3rd September 2009, advised Treasury of its desire to withdraw from the Government’s current Crown Deposit Guarantee Scheme.

The Crown Deposit Guarantee Scheme was introduced by the Government with effect from 12 October 2008 and Asset Finance opted to join the scheme in November of 2008