Equifax affirms General Finance BB- rating

General Capital Limited
Level 7, 12-26 Swanson Street,
PO Box 1314, Shortland Street,
Auckland, New Zealand. 1140.
Phone +64 9 304 0145
Fax +64 9 358 3858


Equifax affirms General Finance BB- rating, with a stable outlook

General Finance Limited, licensed Non-bank Deposit Taker and wholly owned subsidiary of
General Capital Limited, has had its credit rating reaffirmed.

The Board of General Capital is pleased to announce that Equifax Australasia Credit Ratings
Pty Ltd (“Equifax”) has affirmed General Finance Limited’s credit rating of BB- but revised the
outlook on this rating to “stable” from “positive” based on their review of the 31 March 2020
Financial Statements. This rating is described by Equifax in their report as “near prime with
low to moderate risk”.

A copy of the report can be found on General Finance’s website www.generalfinance.co.nz
or alternatively from the disclose register at www.disclose-register.companiesoffice.govt.nz
by searching for General Finance Limited.

Mr. Brent King, Managing Director said, “Given the issues with Covid-19 and the financial
services sector the Board of Directors are pleased with the affirmed rating. This year has been
tough for most financial institutions with several deposit takers having their ratings
downgraded. This includes the big four Australian / New Zealand Banks which were
downgraded by Fitch from AA- to A+ in April. Several other financial institutions have either
had downgrades or their outlooks have been impacted.

You can see that we are pleased with our rating given the Financial Services sector and the
NZ economy.”


For further information contact:

Brent King
Managing Director
General Capital Limited
+64 21 632 660
Brent.King@gencap.co.nz

24 September 2020