14 Jun 2010

Finance company to run more roadshows

6:42 am on 14 June 2010

South Canterbury Finance plans to run more investor roadshows as it works to shore up confidence in the company.

The South Island lender has been rebuilding its financial strength in the last year, pumping in new capital, retaining investors, stripping out bad loans and being accepted into the Government's extended retail deposit guarantee scheme.

However its credit rating was recently downgraded, and it has embarked on a series of investor meetings to answer investors' questions about the downgrade, the company's inclusion in the Government scheme, and its structure and future.

South Canterbury Finance chief executive Sandy Maier says more than 150 people attended the first meeting in Christchurch on Thursday.

Mr Maier says he expects the remaining meetings in Ashburton, Timaru, Auckland and Wellington to be well attended, and there'll be more meetings in the future.