S&P Global Ratings has reaffirmed Meridian Energy’s corporate credit rating as ‘BBB+’/Stable/A-2. The rating includes a one-notch uplift from the Company’s stand-alone rating of ‘BBB’, reflecting the majority ownership of the New Zealand Government.
The kiwi was trading below 60 US cents late Monday in Wellington.
The company’s share price rose 55% after the announcement.
The S&P/NZX 50 Index closed at 12,309.91, down 15.7 points or 0.13%.
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