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Credit ratings agency Standard & Poor's has launched a web page to help educate New Zealanders on the risks of the non-bank deposit-taking (NBDT) sector.
Aimed at financial advisors, investors, and market participants, the web page follows nine finance company failures over the last 18 months, affecting more than $1b in debenture holders.
The agency wanted to improve financial literacy around what credible ratings mean in an NBDT context, said Paul Stephen, managing director of S&P's corporate and government ratings.
Credible credit ratings are one of the cornerstones of Cabinet proposals for an improved regulatory framework for finance companies.
Readers have to register on the Standard & Poor's website to access the information.
- NZPA
