Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


New Zealand Post Credit Rating

New Zealand Post welcomed Standard & Poor's announcement today that it had affirmed Post's AA- credit rating.

New Zealand Post Chief Financial Officer Nazir Awan says the rating confirmed the Company's strong business position and the strategies it has in place.

"We welcome Standard & Poor's assessment, which is consistent with New Zealand Post's own view of the underlying strength of the business.

"In affirming the rating, Standard & Poor's has recognised New Zealand Post's clear market leadership in competitive areas such as the courier, parcel and direct-mail marketing markets. It also acknowledges New Zealand Post's high degree of customer satisfaction and competitive pricing.

The rating for New Zealand Post is unchanged since February 2001 when shareholder approval to make an investment in banking was granted.

New Zealand Post has recently reported a half year profit of $16 million which took into account the rising underlying costs of the business and Kiwibank implementation.

"New Zealand Post remains confident that in the longer term the bank will add significant value for our shareholders," said Mr Awan.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>