Fitch Long-Term and Short-Term Ratings

NZX/ASX Release Fitch Long-Term and Short-Term Ratings 29 October 2019 Fitch Ratings (Fitch) has affirmed the Long-Term Issuer Default Ratings (IDR) of Heartland Group Holdings Limited (NZX/ASX: HGH) (Heartland Group) and Heartland Bank Limited (NZX: HBL) (Heartland Bank) at 'BBB' and the Long-Term IDR of Heartland Australia Group Pty Ltd (Heartland Australia) at 'BBB-'. The Outlooks are Stable. Fitch has downgraded the Short-Term IDR on Heartland Group and Heartland Bank to 'F3' from 'F2'. This follows a change in Fitch's ratings criteria. Fitch's press release is attached. - Ends - For further information, please contact: Andrew Dixson Head of Corporate Finance Heartland Group Holdings Limited 09 927 9274 End CA:00343344 For:HGH Type:GENERAL Time:2019-10-29 09:16:50