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Chorus Limited ( (CHRUF) ) has issued an announcement.
Chorus Limited announced a correction to a recent S&P Global Ratings report, which initially misstated the company’s debt-to-EBITDA ratio. The corrected report maintains Chorus’ credit rating at ‘BBB’ with a positive outlook, reflecting the company’s strong regulated cash flow and prudent capital management. This positive outlook suggests potential for a future upgrade in the long-term rating, contingent on maintaining certain financial ratios. The announcement underscores Chorus’ stable financial positioning and its strategic shift towards a utility-like business model, enhancing its industry standing and attractiveness to investors.
More about Chorus Limited
Chorus Limited is a New Zealand-based company operating in the fixed-line telecommunications sector. It primarily focuses on providing wholesale access to its extensive fiber network, which is a near-monopoly in the country. The company benefits from regulated cash flows, high barriers to entry, and a robust business risk profile due to its utility-like operations.
For an in-depth examination of CHRUF stock, go to TipRanks’ Overview page.