Telecom Corp of New Zealand Ltd presents an improving outlook, Moody’s Investors Service Inc reckons: the ratings agency says it may upgrade the double-A-3 foreign currency rating of the guaranteed Eurobonds of the Telecom Corp of New Zealand Investment Ltd unit. The review follows Moody’s placing of New Zealand’s sovereign rating for foreign currency debt under review for possible upgrade. About $205m in long-term debt is affected. Telecom Corp’s domestic long-term debt is rated double-A-1.
