New Zealand Utilities Weather Sluggish Economy And Other Challenges To Maintain Credit Quality, Report Says May 11

Standard & Poors, May 2011

Abstract
MELBOURNE (Standard & Poor's) May 9, 2011--New Zealand's utilities sector maintained credit quality over the past 12 months, despite weaker economic conditions and some significant structural and regulatory changes, Standard & Poor's Ratings Services said in a report published today. The report, titled " New Zealand Utilities Sector Is Relatively Stable, As Focus Remains On Generators-Retailers", examines issues affecting the credit quality of rated New Zealand-based companies operating in the following sub-sectors: electricity generation and retailing, electricity distribution and transmission, ports, and water services. "A sluggish economy and some significant structural and regulatory changes haven't spared New Zealand's utilities sector, but the damage to credit quality has been limited," Standard & Poor's credit analyst Parvathy Iyer said. "We believe the...

Companies mentioned in this report are: Transpower New Zealand Ltd.,Vector Ltd.,Watercare Services Ltd.,Contact Energy Ltd.,Powerco Ltd.,Mighty River Power Ltd.,Meridian Energy Ltd.,Port of Tauranga Ltd.,Genesis Power Ltd.
Action: General Comment

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Transpower New Zealand Ltd.,Vector Ltd.,Watercare Services Ltd.,Contact Energy Ltd.,Powerco Ltd.,Mighty River Power Ltd.,Meridian Energy Ltd.,Port of Tauranga Ltd.,Genesis Power Ltd.

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