S&P puts NZ Post on negative credit watch

S&P puts NZ Post on negative credit watch
Jenny Ruth
International ratings agency Standard & Poor's have put New Zealand Post on negative credit watch because of the structural decline in mail volumes and the state-owned enterprise's rising capital spending. S&P currently rates the postal service "A+" for long-term debt and "A-1" for short-term debt. "We placed the rating on CreditWatch to reflect the increased likelihood that structural pressures in New Zealand Post's mail business, increased investment requirements in its parcel business and reclassification of subordinated notes as 100 p...

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