NZ Post credit rating outlook revised to stable on Kiwibank dividend, asset sales

Tue, 17 Nov 2015

By Paul McBeth Nov. 17 (BusinessDesk) - New Zealand Post, the state-owned mail and distribution service, had the outlook on its credit rating revised up to stable as the start of dividends from its Kiwibank unit and a series of asset sales shored up its balance sheet. Global ratings agency Standard & Poor's affirmed NZ Post's A+ long-term and A1 short-term ratings, while lifting the outlook to stable from negative, it said in a statement. The outlook revision reflected the state-owned enterprise's stronger financial position after selling...

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