www.interest.co.nz updates SQP Scores
Release date: 20 September 2005
www.interest.co.nz updates SQP Scores©
www.interest.co.nz today announced the quarterly revision to its SQP Scores©.
Six new financial institutions have been added to the review, and one has been removed after it was combined with a related party.
Of the 86 financial institutions covered, twelve improved their ranking, while five went the other way.
The SQP Score© is a multi-attribute relative ranking of all New Zealand banks, building societies, and finance companies that take deposits from the public. It is based on scoring their publicly available financial statements for some key factors important to depositors, and allows investors to compare three aspects – balance sheet strength, balance sheet quality, and profitability. It may also help depositors assess the yield being offered.
More information about the SQP Score© can be found here >>> www.interest.co.nz/sqp.html (It is not a credit rating and should not be used as one.)
Wrightson Finance Limited received the most improved SQP Score©, going from CCC to BAC on the strength of substantial growth supported by a major bond issue and a significant equity injection.
In addition, two companies joined the existing eight who have achieved an "A" ranking in all three elements. These new institutions are MARAC and Dominion Finance, and they join the ANZ, ASB, BNZ, TSB, and Westpac banks, along with Bridgecorp, South Canterbury Finance, and Strategic Finance who had already achieved an SQP Score© of "A-A-A".
The complete set of SQP Scores© are set out on the Term Deposit pages of www.interest.co.nz
Summary financial statements for every company are also set out on this website, along with some key financial ratios and other related data. This resource records the audited financials as soon as they are available, making it a convenient place to find both interest rate information and the supporting background for every financial institution.