Liberty term deposit business receives S&P rating boost

Credit agency S&P Global has raised the corporate rating for Liberty Financial Limited, Liberty’s term deposit business to BBB/Stable/A-2 from BBB-/positive/A-3.

Liberty is a licensed non-bank deposit taker regulated by the Reserve Bank of New Zealand.

The higher credit rating is a testament to the company’s ongoing financial strength and success, Chief Executive Officer, Aaron Skilton said.

“This rating boost reflects Liberty’s success in delivering a strong and stable financial services business model, backed by a team of knowledgeable professionals.”

“It reflects the competitive advantages Liberty has as the only non-bank in New Zealand with an investment-grade rating, offering increased confidence for investors.”

Liberty General Manager Igor Stychinsky said the rating boost reflected the confidence investors can have in the security, flexibility and competitive returns from a Liberty term deposit.

“With this rating increase, Liberty term deposits are competing with some of the banks as a safe and secure investment option. The rating also puts Liberty on par with some New Zealand banks like Heartland, the Co-Operative Bank and SBS. A rating boost to BBB is a vote of reassurance from S&P.”

The rating change comes amid team expansion for the non-bank, recently announcing new BDM appointments for Wellington and the South Island.

“The business will continue to expand, building on more than 20 years that our term deposit arm has operated. In that time, we have shown investors that we are a strong and stable option for Kiwis seeking to improve their return on savings,” Stychinsky said.