MUMBAI (Thomson Financial) - Moody's Investors Service said it lowered its
outlook on the 'Aa2' ratings of Transpower New Zealand Ltd. and Transpower
Finance Ltd. to negative from stable, while affirming the 'Aa2/P-1' ratings on
them.
"The revision of Transpower's rating outlook reflects an expectation of a
weakening in the company's financial profile in light of its large grid
investments," said Moody's, adding, "these investments, totaling NZ$4 billion,
are expected to be funded with debt and operating cash flows."
Transpower is New Zealand's sole electricity transmission owner and
operator.
TFN.newsdesk@thomsonreuters.com
kbo/ssa
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|