Moody’s cuts Chorus credit rating to Baa3 as regulatory risk looms

By Paul McBeth
Jan. 21 (BusinessDesk) - Moody’s Investors Service has cut Chorus’s credit rating a notch to the bottom of its investment grade band over the prospect of enforced price cuts to its copper line service.
The rating agency downgraded Chorus’s rating to Baa3 from Baa2, and kept a negative outlook, over the regulatory risk hanging over its earnings stream from services delivered on the copper network, and higher capital expenditure and operating expenses than originally anticipating, Moody’s said in a statement. The negative outlo...
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