Chorus debt rating on review for possible cut following regulator’s draft price controls

Mon, 03 Dec 2012

Dec. 4 (BusinessDesk) - Chorus's Baa2 credit rating may be cut by Moody’s Investors Service after the Commerce Commission released a draft plan to curb prices the company can charge retailers to access its network. The review affects US$2 billion of debt. The regulator yesterday released a draft determination that would cut the price of Chorus’s basic service relating to the unbundled local copper loop (UCLL) component of its unbundled bitstream access (UBA) to $8.93 per line a month from December 2014 from $21.46. Chorus has said this will...

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