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  1. #1511
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    S&P at it again (Kiwibank this time): http://www.stuff.co.nz/business/indu...gative-outlook

  2. #1512
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    Quote Originally Posted by moosie_900 View Post
    "Possible within the next 2 years"!!! Jeez, talk about putting people on edge a bit for an extended period of time S&P!
    Negative watch means a risk of reduce rating sometime within the next two years - ie. I am pretty sure this is standard for a negative watch the world over.

    Interesting they they think the Ozzie banks will prop up their NZ subsidiaries if the sh!t hits the fan but the government wont prop up Kiwibank. Ozzie banks would cut and run, unlike the government.
    Free delivery worldwide with Book Depository http://www.bookdepository.co.uk

  3. #1513
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    Quote Originally Posted by moosie_900 View Post
    "Possible within the next 2 years"!!! Jeez, talk about putting people on edge a bit for an extended period of time S&P!
    As CJ states..a negative watch is,,,

    I don't know what all the fuss is about putting blame on the S&P...From my viewpoint these S&P Moodys Fitch negatives are warnings that allows the relevant Sectors plenty of time to formulate contingency plans and other improvements...

    There is only one thing worse for the Marketplace than a credit rating bombshell without a warning ... that is the public scoffing of a warning by that sector(s) involved and doing nothing about it.
    Last edited by Hoop; 22-05-2013 at 09:27 AM.

  4. #1514
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    Hoop the problem is that there is nothing the banks can do to help their situation. They could hold more capital than required or reduce their exposure to property but Heartland has already done/does this.

    All that is left then is to determine how correct S&P are that there will be a major property crash in the next two years (unlikely in my view - no growth or slight fall dont count) and if so, who much the banks will be effected. Heartland isnt writing high LVR house loans so will only be impacted by trickle down (if you cant pay your house, you cant pay your car either).
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  5. #1515
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    Quote Originally Posted by CJ View Post
    Hoop the problem is that there is nothing the banks can do to help their situation. They could hold more capital than required or reduce their exposure to property but Heartland has already done/does this.

    All that is left then is to determine how correct S&P are that there will be a major property crash in the next two years (unlikely in my view - no growth or slight fall dont count) and if so, who much the banks will be effected. Heartland isnt writing high LVR house loans so will only be impacted by trickle down (if you cant pay your house, you cant pay your car either).
    or get into trouble with that loan tied to your business ... might be the truck, the tractor or whatever. No doubt most of these loasns have personal guarantees associated with them

  6. #1516
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    Good to see HNZ is recovering in the meantime. Nothing wrong with stating a position, but I can't believe that S&P still exists after their performance in the years leading up to the GFC. Or that anyone gives them any credibility. I have some shares in IMF(ASX) who are financing a class action against them in Australia.

  7. #1517
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    Quote Originally Posted by cloggs View Post
    Good to see HNZ is recovering in the meantime. Nothing wrong with stating a position, but I can't believe that S&P still exists after their performance in the years leading up to the GFC. Or that anyone gives them any credibility. I have some shares in IMF(ASX) who are financing a class action against them in Australia.


    They have been saved so far by their extensive use of disclaimers but the day of reckoning is coming :

    http://www.huffingtonpost.com/2013/0...n_2621561.html

    US$5 billion in fines should just about make them wake up to the corruption and fraud so prevalent in their ratings.

    I throw my Australian made sandals at them.
    Last edited by Balance; 22-05-2013 at 01:03 PM.

  8. #1518
    Guru Xerof's Avatar
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    Balance, stop being a wuss, bugger your japanese slippers and australian sandals, toss your dutch wooden clogs first, then clip them round the ears with your north korean jackboots

  9. #1519
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    Quote Originally Posted by Xerof View Post
    Balance, stop being a wuss, bugger your japanese slippers and australian sandals, toss your dutch wooden clogs first, then clip them round the ears with your north korean jackboots
    Ok, I throw my well worn mountain climbing boots at them then.

    http://www.youtube.com/watch?v=VFX-dKpcDz8

  10. #1520
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    Quote Originally Posted by CJ View Post
    Hoop the problem is that there is nothing the banks can do to help their situation. They could hold more capital than required or reduce their exposure to property but Heartland has already done/does this.

    All that is left then is to determine how correct S&P are that there will be a major property crash in the next two years (unlikely in my view - no growth or slight fall dont count) and if so, who much the banks will be effected. Heartland isnt writing high LVR house loans so will only be impacted by trickle down (if you cant pay your house, you cant pay your car either).
    They should be trying harder...going from BBB- stable to negative does not sound like an improvement to me.....next step down is guilt-edged junk status.

    Disc hold HNZ


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