Chorus credit rating on review for downgrade by Moody’s on pricing review

Wed, 06 Nov 2013

Nov. 6 (BusinessDesk) – Chorus’s credit rating has been placed on review for a possible downgrade by Moody’s Investors Service following the regulator’s decision to cut the price the network company can charge for access to its ageing copper lines. The company’s Baa2 rating, the second-lowest investment grade rating, was already on negative outlook at Moody’s because of the regulatory uncertainty. Telecommunications Commissioner Stephen Gale yesterday announced the total unbundled bitstream monthly price had been set at $34.44 per line, up fr...

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