SkyCity's rating outlook revised

Friday 13th May 2011 2 Comments

The outlook for SkyCity Entertainment Group's credit rating has been changed to stable from positive by credit rating company Standard & Poor's.

S&P affirmed the casino operator's BBB minus long-term rating.

"The rating and outlook incorporates our expectation that SkyCity will maintain the competitive positioning of its New Zealand and Australian casino assets, underpinned by a supportive licensing environment and measured capital investment," S&P said.

NZPA

Comments from our readers

On 13 May 2011 at 5:56 pm Bob Howell said:

So; stable from positive. What does that mean? Meaningless unless we are told if the credit rating has gone up or down? We are not all experts.

On 14 May 2011 at 7:59 am Ravin Malarao said:

Endorse the above remarks. Either Skycity execs oe S & P need to explain what it means