South Canterbury Finance Ltd. http://www.alacrastore.com/company-snapshot/South_Canterbury_Finance_Ltd-3180942 Saturday, October 11, 2008 8:22:33 AM 3180942 South Canterbury Finance Ltd. en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/spcred/656224spcred/656224normThe latest News from S&Pglobal6/26/2008 4:43:37 AM100News656224New ZealandPacificGlobal IssuersFinancial InstitutionsNewsMELBOURNE (Standard&Poor's) June 26, 2008—Standard&Poor's Ratings Services said today that it had affirmed its 'BBB-/A-3' ratings on South Canterbury Finance Ltd. (SCF). The outlook remains stable. The ratings reflect the finance company's sound business profile and good domestic operational geographic diversity, which underpins its market position as one of the largest New Zealand-owned finance companies. "In addition, SCF has materially broadened, lengthened, and increased the size of its funding facilities, which places it in an improved position in the short-to-medium term to contend with reduced confidence by retail debenture investors. Reduced investor confidence has resulted in lower levels of new debentures and reinvestment rates for SCF, albeit not to the same extent as many competitors," StandardNZLSouth Canterbury Finance Ltd.410619PACSCF@NZNEWSGLOBISSFICredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/656225spcred/656225normThe latest Research Update from S&Pglobal6/26/2008 4:43:37 AM175Research Update656225New ZealandPacificGlobal IssuersFinancial InstitutionsResearch UpdateOn June 26, 2008 Standard&Poor's Ratings Services affirmed its 'BBB-/A-3' ratings on South Canterbury Finance Ltd. (SCF). The outlook remains stable. The ratings on SCF reflect the finance company's sound business profile and good domestic operational geographic diversity, which underpins its market position as one of the largest New Zealand-owned finance companies. The company's stable profitability track record and sound credit-loss experience, combined with its improving funding and liquidity diversification over the past year also support the rating. Moderating rating factors include SCF's small absolute capital base compared to international peers, some of its higher credit-risk lines of business, and a risk-management framework that is developing but adequate for risks contended. At six months ended Dec. 31, 2007,NZLSouth Canterbury Finance Ltd.410619PACSCF@NZRESUPDGLOBISSFICredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/656226spcred/656226normThe latest Full Report from S&Pglobal6/26/2008 4:43:37 AM400Full Report656226New ZealandPacificGlobal IssuersFinancial InstitutionsFull ReportGood business profile in the New Zealand finance industry sector Good geographic diversity of operations by local industry standards Sound profitability track record Improved diversity of funding and liquidity sources over the past year Sound credit-loss experience Quality and size of capital modest by international standards Some higher-risk lines of business compared with New Zealand banks Developing risk-management framework and practices The 'BBB-' rating on South Canterbury Finance Ltd. (SCF) reflect the finance company's sound business profile and good domestic operational geographic diversity, which underpins its market position as one of the largest New Zealand-owned finance companies. The company's stable profitability track record and sound credit-loss experience, combined with its improving funding and liquidity diversification over the past year alsoNZLSouth Canterbury Finance Ltd.410619PACSCF@NZFULLGLOBISSFICredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/648918spcred/648918normThe latest News from S&Pglobal5/19/2008 4:24:41 AM100News648918New ZealandPacificFinancial InstitutionsGlobal IssuersNewsMELBOURNE (Standard&Poor's) May 19, 2008--Standard&Poor's Ratings Services said today that it had assigned its 'BBB-' issue rating on the proposed NZ$75 million secured bond (with an option to retain oversubscriptions up to NZ$50 million) to be issued by New Zealand-based South Canterbury Finance Ltd. (SCF; BBB-/Stable). The bonds are issued under a prospectus and a trust deed structure that is overseen and managed by an independent trustee, Trustees Executors Ltd., which has been established specifically for the issuance of these securities. The rating on the secured bond has been equalized with that on SCF as the bonds are senior secured obligations which rank on a pari passu basis with other secured bonds, secured debenture stock, andNZLSouth Canterbury Finance Ltd.410619PACSCF@NZNEWSGLOBISSFICredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/641531spcred/641531normThe latest Full Report from S&P4/8/2008 3:22:30 AMFull Report400global641531New ZealandPacificGlobal IssuersFinancial InstitutionsFull ReportStrong business profile in the New Zealand finance company sector Good geographic diversity Sound profitability track record Good funding and liquidity positions Sound credit loss experience Good quality and size of capital compared with local peers but modest by international standards Higher-risk lines of business Developing risk-management framework and practices On March 31, 2008, Standard&Poor's Ratings Services affirmed its ratings on South Canterbury Finance Ltd. (SCF) reflecting the finance company's sound business profile and geographic diversity that underpins its market position as one of the largest domestically owned finance companies in New Zealand (N.Z.). The company's good profitability track record, sound credit-loss experience, and good funding and liquidity diversification over the past year also support the rating. ModeratingNZLSouth Canterbury Finance Ltd.410619PACSCF@NZFULLGLOBISSFICredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/641532spcred/641532normThe latest Summary from S&P4/8/2008 3:22:30 AMSummary175global641532New ZealandPacificGlobal IssuersFinancial InstitutionsSummaryOn March 31, 2008, Standard&Poor's Ratings Services affirmed its ratings on South Canterbury Finance Ltd. (SCF) reflecting the finance company's sound business profile and geographic diversity that underpins its market position as one of the largest domestically owned finance companies in New Zealand (N.Z.). The company's good profitability track record, sound credit-loss experience, and good funding and liquidity diversification over the past year also support the rating. Moderating rating factors include SCF's small absolute capital base, by international standards, higher credit-risk lines of business and a developing risk-management framework that is improving and remains adequate for risks contended. At six months ended Dec. 31, 2007, SCF had total assets of NZ$1.84 billion, making it a significant player inNZLSouth Canterbury Finance Ltd.410619PACSCF@NZSUMMARYGLOBISSFICredit & Investment ResearchS&P Credit Research