S and P joins Moody’s in reviewing Chorus credit rating after pricing review

Wed, 06 Nov 2013

Nov. 6 (BusinessDesk) – Standard & Poor’s has joined Moody’s Investors Service in putting Chorus’s credit rating on review following the regulator’s decision to cut the price the network company can charge for access to its ageing copper lines. Chorus’s BBB rating has been placed on CreditWatch Negative, meaning it has a 50-50 chance of cutting the rating in the next three months. Earlier today, Moody’s placed the company’s Baa2 rating on review for a possible downgrade. Chorus has the second-lowest investment grade rating. If Chorus’s credi...

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