23 Feb 2021
Type
On 22 February 2021, ratings agency S&P Global Ratings (S&P) raised their long-term issuer credit rating on Transpower New Zealand Limited from 'AA-' to 'AA'. This follows S&P’s revised New Zealand foreign currency sovereign ratings from 'AA' to 'AA+’ and New Zealand local currency sovereign ratings from 'AA+’ to 'AAA’.
S&P have also revised the outlook on Transpower from Positive to Stable. The stable outlook reflects the regulated and monopoly nature of Transpower’s business, its visible cash flow profile until 2025 and continued government support.
For further details, please contact:
Deborah Gray, Corporate Communications Manager, Transpower 021 624 170
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Disclosure notice — Transpower rating upgrade February 2021