11 March 2010

Investors Downgrade South Canterbury Finance


Investor concern with South Canterbury Finance appears to be increasing, with the company's first ranking secured Dec 2012 bonds closing at 52c in the dollar on the NZX yesterday for a yield of 40% p.a. Confidence in the company by investors has been falling since the company was downgraded again by Standard and Poors to a lower junk rating, and investment advisor Chris Lee criticised the company.

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