Ann: June 2019 Quarter Cashflow Commentary and Business Update, page-2

TIMELY ACTION
S&P Global Ratings likes the FE Investments equity issue. It says this share issue by FE Investment Group (FEIG) should strengthen the group's capital base and therefore moderate the immediate downside for the creditworthiness of FE Investments, their main operating entity. If it completes, S&P indicates it will unwind the 'negative outlook' it issued recently. FEI has an S&P credit rating of 'B'.

https://www.interest.co.nz/news/100947/review-things-you-need-know-you-go-home-tuesday-co-op-bank-cuts-rates-soft-building