Wairarapa Building Society [WBS] has announced that its credit rating had been reaffirmed by credit rating agency Fitch Ratings.
The rating remains unchanged at BB+ [stable], as it has been for close to 15 years.
WBS Chief Executive John Healy is pleased with the confirmation.
“It’s wonderful to have our rating confirmed as we head into our 150th year.
“It gives our customers confidence in the money they invest with, or borrow, from us and, in turn, it means we can continue to invest back into Wairarapa’s community, which is integral to our purpose,” he said.
Fitch’s report said it expected the operating environment to be broadly stable for New Zealand non-bank deposit takers over the next two years, despite forecasting a mild recession in 2023.
The agency said it expected WBS to maintain capital ratios and remain towards the top end of its peer group over the coming two years.
WBS marks 150 years of operation in April.
