NZ Post sees no impact on debt on issue from S and P lowering rating outlook

Tue, 21 May 2013

May 22 (BusinessDesk) - New Zealand Post, the state-owned postal service, says Standard & Poor’s move to lower the outlook on its A+ credit rating won’t affect debt on issue or create any problems for its financing activities. S&P yesterday affirmed the ratings of NZ Post and its KiwiBank subsidiary while lowering the long-term outlook to negative from stable, saying increasing economic risks in New Zealand could undermine the credit-standing of KiwiBank, which makes up 70 percent of the group’s earnings. NZ Post chief financial officer Mark...

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