Telecom drops Fitch from ratings coverage

Telecom, the largest company on the NXZ 50, has dropped Fitch Ratings from its credit ratings line-up.

The telecommunications company will continue to engage with ratings agencies Standard & Poor's and Moody's Investors Service for ratings and analytical coverage, it said in a statement.

"It is what it is, we have two rating agencies and that is sufficient coverage," a spokesperson for Telecom told BusinessDesk. Standard & Poor's long term rating for Telecom is A-/stable, while Moody's is A3 stable.

In October, Fitch has downgraded Telecom's long term credit rating from A- to BBB+/Stable. Shares in the company opened the day on $2.39. The stock has gained 17 percent this year.

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

PGW Guidance Update
CNU - Commerce Commission releases draft expenditure decision
Spark announces departure of Product Director
TGG - T&G appoints new Director
April 18th Morning Report
SKC - APPOINTMENT OF CHIEF EXECUTIVE OFFICER
Devon Funds Morning Note - 17 April 2024
Consultation opens on a digital currency for New Zealand
TWL - TradeWindow's $2.2 million capital raise now unconditional
April 17th Morning Report