News

It has been reported that Standard & Poors has changed the credit rating of two Asia Pacific postal operators, New Zealand Post and Australia Post. Standard & Poors say that the new outlook reflects global trends.

Standard & Poor's Ratings Services has advised that it has affirmed New Zealand Post's AA-/A-1+ credit rating but amended its outlook from ‘stable’ to ‘negative’.

The change reflects Standard & Poor’s view of the ongoing decline in global postal trends. For instance, Australia Post was given a similar outlook two weeks ago.

The NZ Post CEO Brian Roche said while the change in outlook is disappointing, he's confident they are on track. "It's why we've got the Plan and we're doing the things we are to meet the challenges posed by these global trends.

"This includes developing a sustainable physical network, growing the bank, creating a digital future and a delivering a superior customer experience."