But did you get express permission to do so
He bit touchy on this in the past
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Can't see why he'd be touchy about it Winner, its a public page on their website.
I think Mike summed the situation up perfectly....just another misjudgement by the boys at S&P
I find Mikes commentaries refreshingly good to the same degree as I find Chris's diatribes boringly repetitive
as I said on the day, keep calm and carry on you HNZ loyalists, the S&P saga is a storm in a teacup
Oh well, thick hides on here Winner.
I was neutral wasn't I? Brick for one, offset by bouquet for the other?:D
Maybe Heartland should get its rating from Fitch. Problem Solved.
Of course Chris Lee would.
He does not like the truth, and cannot handle the truth.
And the truth is that he is actually ignorant about financial matters when you consider how wrong he was with finance companies. He had his own rating system and that blew up big time and he quickly removed all references of the system from his web-site.
Having said that, the world will be a less entertaining place if the Chris Lee's of the world are not around!
KIWIGOLD I would go with S&Ps opinion over Cris Lee's opinion any time
S&P at it again (Kiwibank this time): http://www.stuff.co.nz/business/indu...gative-outlook
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.
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.
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).