Bancorp Corporate Finance says firms need to renegotiate their funding facilities sooner rather than later.
Bancorp Corporate Finance's managing director Craig Brownie says companies should not be complacent in the face of improving global credit markets because banks have tightened their lending criteria.
He says positive news about the recession and government guarantees coming off banks could give people a false sense of security.
But Mr Brownie says that in reality banks are still finding it hard to borrow internationally, and their funding margins have not come back to where they were two or three years ago.
He says customers cannot take refinancing for granted.