Investing with UDC, investing in New Zealand's future
We've helped the steady growth and success of thousands of New Zealand businesses and as a result we've created sound returns for our investment customers.
Our investors can take pride in the fact that they're contributing to our country's growth. Together we're investing in New Zealand's future.
We offer sound investment options, from flexible call accounts through to secured term investments income.
Whichever investment option you choose, you can count on competitive interest rates, our experienced staff and our long term history in New Zealand.
22 June 2017
Notice pursuant to clause 68 of schedule 2 to the Financial Markets Conduct Regulations 2014
This notice is given in relation to all products that have been issued by UDC Finance Limited's ("UDC") and referred to in the relevant offer document as "Secured Investments".
UDC gives notice under clause 68 of schedule 2 to the Financial Markets Conduct Regulations 2014 that one of the credit ratings of its holding company, ANZ Bank New Zealand Limited ("ANZ"), has changed. ANZ's credit rating is relevant to a consideration of UDC's related party risk (see page 24 of the PDS).
ANZ has credit ratings from three rating agencies. The table below sets out ANZ's rating as at the date of this notice:
|Rating Agency||Current credit rating||Qualification|
|Standard & Poor's (Australia)
|Moody's Investors Service Pty Limited||A1
(Equivalent to a Standard & Poor's rating of A+)
|Fitch Australia Pty Limited||AA-
(Equivalent to a Standard & Poor's rating of AA-)
The credit rating that changed as at the date of this notice is the credit rating given by Moody's and the change was to downgrade ANZ's credit rating from Aa3, outlook negative (which is equivalent to ANZ's current Standard & Poor's rating) to A1, outlook stable. This follows Moody’s revision of Australia’s macro credit profile that has resulted in a downgrading of the Baseline Credit Assessments of the four major New Zealand banks.
A credit rating is an independent opinion of the capability and willingness of an entity to repay its debts (in other words, its creditworthiness). A credit rating should be considered alongside all other relevant information when making an investment decision.
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