Vector on negative credit watch as S and P gets dark on NZ regulatory regime

Tue, 26 Nov 2013

Nov. 27 (BusinessDesk) - Auckland lines company Vector has had its BBB+ credit rating placed on negative credit watch after global rating agency Standard & Poor’s decided New Zealand’s regulatory regime is less stable and a higher risk than in other nations. The notice means Vector’s rating has a 50/50 chance of being cut over the next three months, though chief executive Simon Mackenzie said he didn’t believe there would be any immediate financial or customer impact from the change because of the long-dated duration of the company’s debt....

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