S&P Global Ratings Upgrades Transpower New Zealand Limited’s Credit Rating to 'AA’, Outlook Stable

23 February 2021

On 22 February 2021, ratings agency S&P Global Ratings (S&P) raised their long-term issuer credit rating on Transpower New Zealand Limited (TRP) from 'AA-' to 'AA'. This follows S&P’s revised New Zealand foreign currency sovereign ratings from 'AA' to 'AA+’ and New Zealand local currency sovereign ratings from 'AA+’ to 'AAA’. 
 
S&P have also revised the outlook on TPR from Positive to Stable. The stable outlook reflects the regulated and monopoly nature of TPR’s business, its visible cash flow profile until 2025 and continued government support. 
 
ENDS 
 
For further details, please contact:  
 
Deborah Gray, Corporate Communications Manager, Transpower 021 624 170