Moodys Ratings report on HNB

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Moodys Ratings report on HNB Empty Moodys Ratings report on HNB

Post  raptor on Mon May 06, 2013 2:03 pm

Note the comment on gold collateralisation and its 0% risk weighting, very aggresive especially now given the crash in prices.

Also look at their low provisioning rate of 51% which is net of collateral which again goes back to gold. If there is a cyclical downturn or gold prices crash (As seen recently) they might have to drastically increase provisions which will feed through to the income statement.

I will upload some more Moodys reports, have BoC as well. Just need the time off work to do it!
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