New Zealand?s Watercare Services Ltd. Ratings Raised, On Expectations Of Higher Likelihood Of Support From Council Sep 11
- Language: English
- Published: September 2011
- Region: New Zealand
On April 17, 2009, Standard & Poor's Ratings Services revised its rating outlook on New Zealand water-services provider Watercare Services Ltd. to developing from negative. At the same time, we affirmed our 'A-/A-2' corporate credit ratings on Watercare and the 'AA/A-1+' issue ratings on Watercare's guaranteed debt. The developing outlook largely reflects uncertainty surrounding the potential conflicting implications of Watercare's proposed transition to a sole, integrated water and wastewater provider in the Auckland region on the company's business and financial profiles. Under the proposal, Watercare will be owned by one unitary Auckland region council, the proposed Auckland Council (AC) rather than six existing local council owners. Watercare's proposed absorption of all the Auckland region's water retailers, as recommended by the...
Companies mentioned in this report are: Watercare Services Ltd.,Auckland City Council
Action: Outlook: Developing
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Watercare Services Ltd.,Auckland City Council