CFO's report improvement in credit conditions
Credit becoming slightly easier to obtain, according to Deloitte survey
CFOs are slightly more upbeat on credit conditions after the first quarter of
2009, the Deloitte CFO survey has found.
But the majority surveyed say that credit remains expensive and elusive to
obtain.
Cuts in the cash rates have to some extent flowed into reduced borrowing
costs for businesses, with 64 per cent of CFOs reporting some improvement.
Government intervention, by contrast was having little impact on the lives of
CFOs attempting to refinance debt facilities.
Most of those surveyed did not expect to see any improvement in the price or
supply of credit this year, but there was more optimism regarding conditions in
2010. Fifty-nine per cent thought conditions would imrpove in 2010, but a third
of CFOs surveyed didn’t forsee any real change until 2011.