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Good news for Liberty

Non-bank deposit taker Liberty Financial has had its credit rating raised by Standard & Poors.

Thursday, 10 November 2016

Specialty financial services company Liberty Financial has had its credit rating lifted from BBB - BBB by S&P Global. 

While the rating change was made to the Australian company it has also been extended to Liberty's New Zealand subsidiary, reflecting S&P's opinion of "the unconditional, irrevocable, and timely guarantee provided to LFL by Liberty."

The outlook on the ratings on both Liberty and LFL is negative. 

The rating agency says the change reflects Liberty's strengthened capital position and its expectation that the company will maintain its very strong capitalisation.  "We consider that Liberty's capital, leverage, and earnings have progressively improved to a very strong level.

S&P expect Liberty's risk-adjusted capital (RAC) ratio to remain at 15.5%-16.5% over the next 12 to 18 months under our base-case scenario.  S&P says the company has said it will keep its RAC ratio above 15%, and recently demonstrated that by making an A$25 million capital injection in

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