Chorus credit rating revised to stable from negative by S&P on copper pricing

Thu, 04 Dec 2014

By Jonathan Underhill Dec. 4 (BusinessDesk) - Chorus's credit rating outlook was revised to 'stable' from 'negative' by Standard & Poor's after the Commerce Commission lifted the proposed price it can charge customers for access to its copper lines. S&P affirmed the network operator's BBB rating, saying the improved pricing and revisions to Chorus's debt covenants in July had "significantly reduced downward pressure" on the rating. S&P said while the commission's draft final pricing principle could be revised before being finalised nex...

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