Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Instant Finance Leads the Way

27th October 2006

Instant Finance Leads the Way in Public Transparency

Personal Loan Provider Has ‘Investment Grade’ Rating Renewed by New System

Instant Finance, one of the country’s longest established personal loan providers, has been given a B3 ‘Investment Grade’ rating by the local successor to global corporate credit rating agency Rapid Ratings.

Instant Finance was the first in the queue to open its books to Risk analysis Limited, the new ratings company, run by Ron Keene, which has secured the exclusive licence for the marketing of Rapid Ratings research in New Zealand and for the use of Rapid Ratings’ international qualitative rating system, methodology, templates and standards for the rating of companies.

Earlier this year Rapid Ratings decided to pull out of the New Zealand market because of a lack of demand for its services. However, after requests from Instant Finance and other finance companies the service has been resumed under licence by Risk Analysis Ltd.

Ron Keene commented: `What we provide is a true credit rating, not just a ranking, globally benchmarked against the industry and against global standards of ‘best practice’. Our rating scale also identifies the investment grade threshold recognised by the market. Instant Finance’s B3 credit rating suggests that the business of the company is of reasonably good quality. We noted that it has achieved a very good set of financial results, has a good record of profitability and is performing at a high level of financial efficiency.’

Recently launching the company’s new Prospectus, Richard de Lautour, Chief Executive of Instant Finance, announced that he believed it was important to invite the financial ratings experts to assess Instant Finance. He said: `This is all about transparency and giving the everyday investor an opportunity to have an independent viewpoint about the quality of the investment opportunity. Being entrusted with people’s hard earned money is a significant responsibility. At Instant Finance we recognise that investment involves a huge element of trust.

`At Instant Finance there is a separation of shareholder interest from the day to day management of the company. Management manage the business first and foremost with the best interests of investors at heart.

`This assessment system involves a minimum of 125 hours analysing the company including non-public data and interviews with all our key executives and has produced a comprehensive report on our financial health. We are more than pleased to welcome this ratings system back to New Zealand and without a doubt it should be universally adopted in order to reassure investors that their money is in responsible hands.’

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Stats NZ: Election Boosts October Job Numbers

Job numbers were boosted by general election staff in October 2020, along with rises in the manufacturing, retail, and hospitality industries, Stats NZ said today. Filled jobs rose by 27,667 to 2.2 million in October 2020 compared with September, after ... More>>

Government: New Year Border Exception For Seasonal Workers In The Horticulture And Wine Industries

2000 additional RSE workers to enter New Zealand early next year employers must pay these workers at least $22.10 an hour employers will cover costs of managed isolation for the RSE workers RSE workers will be paid the equivalent of 30 hours work a week ... More>>

ALSO:

Grey Power: Is Disappointed To Learn Of More Bank Closures

Many older people are being left without essential services because of cost cutting and the march of modern technology. It is now expected that most banking transactions can occur via the internet or telephone. Jan Pentecost, President of the Grey Power ... More>>

ALSO:


Media: Discovery, Inc. Completes Acquisition Of New Zealand’s Mediaworks TV Ltd

Auckland, New Zealand, December 1, 2020 - Discovery, Inc. (“Discovery”), the global leader in real-life entertainment, has completed its acquisition of New Zealand’s leading independent free-to-air commercial broadcaster, MediaWorks TV Ltd, now operating ... More>>

Department Of Conservation: Big Year Underway At Albatross Colony

Familiar faces are returning for the new season of Royal Cam, with a big breeding year underway for the toroa/northern royal albatross colony on Otago’s windswept Pukekura/Taiaroa Head. More than 120 albatrosses, a taonga species, have returned ... More>>

Real Estate: ASB Survey Reveals Majority Of Kiwis Expect House Prices To Keep Climbing

ALSO:

House price expectations are soaring as New Zealand’s housing market shifts up a gear. But stretched affordability is putting a dent in perceptions of whether it’s a good time to buy. While Kiwis reveal they do expect interest rates to fall further. ... More>>

Stats NZ: Births And Deaths: Year Ended September 2020

Births and deaths releases provide statistics on the number of births and deaths registered in New Zealand, and selected fertility and mortality rates. Key facts For the year ended September 2020: 57,753 live births and 32,670 deaths ... More>>

ALSO: