Latest Credit Rating News

Kiwi Property has closed a NZ$200 million seven-year green bond offer after attracting NZ$395 million of demand from retail and institutional investors. The bonds carry a 1.20% margin and are expected to receive an issue rating of BBB+ from S&P Global Ratings.

S&P Global Ratings has lowered Bank of Queensland’s long-term issuer credit rating from A- to BBB+, adding a fresh market signal after the bank’s FY26 results. BOQ says the downgrade is not expected to materially affect its capital, liquidity or funding position, and has left its guidance unchanged.

Chorus has retained its BBB issuer credit rating with a positive outlook after S&P reclassified NZ$683 million of government-linked securities as debt. The change lifts adjusted leverage, but S&P still sees a possible upgrade to BBB+ if Chorus keeps FFO-to-debt above 13% and maintains supportive financial policies.

S&P Global Ratings has revised TPG Telecom’s outlook to stable from negative while affirming its BBB issuer credit rating. The agency expects mobile growth, lower capital intensity and balance-sheet repair to push adjusted debt-to-EBITDA below 2.75x from fiscal 2027, although spectrum costs remain a substantial test.

Metrics Real Estate Multi-Strategy Fund has released audited FY26 accounts with an unqualified KPMG opinion, reporting $28.2 million in profit after tax and 10.48 cents per unit in distributions. The accounts also expose a $10 million interest-free related-party loan and a temporary halt to applications and redemptions in underlying funds.

Ampol will acquire Evie Networks for $225 million in a debt-funded deal that would more than triple its public charging footprint to approximately 1,425 bays. The transaction offers a faster route into Australia’s expanding EV infrastructure market, but its earnings case depends on regulatory clearance, integration and rising utilisation.

Transurban Group has agreed to pay $4.5 billion for Canada’s pension fund’s stakes in three major Sydney toll roads, lifting its ownership of Westlink M7, NorthConnex and WestConnex. The debt-funded transaction is expected to support long-term free cash growth, but still requires regulatory and contractual approvals.

Global X Australian Bank Credit ETF more than doubled its net assets to $184 million in the year to 30 June 2026, while profit rose to $6.9 million. The audited report also shows a larger exposure to BBB-rated debt and a sharp increase in distributions payable.

Ramsay Health Care delivered stronger FY26 earnings, a higher fully franked dividend and improved Funding Group leverage as it prepares to separate Ramsay Santé. The proposed demerger remains conditional, but the company has set a clear timetable for the next phase of its portfolio reshaping.

Washington H. Soul Pattinson delivered a record statutory profit after its Brickworks merger, but the headline $2.191 billion result was dominated by accounting gains that will not recur. More durable measures also improved, with Net Cash Flow From Investments rising 11.5%, post-tax NAV reaching $14.5 billion and the final dividend increasing to 63 cents per share.

Dyno Nobel has reaffirmed its FY26 outlook and retained its A$600 million FY28 underlying EBIT ambition, while setting a new A$800 million target for FY31. The explosives maker is positioning defence energetics, premium technology and growth in mining markets as the next leg of expansion.

Infratil has raised FY27 earnings guidance as data-centre demand accelerates across CDC and Longroad, with AI infrastructure now representing 73% of its NZ$22 billion asset base. The company is also sharpening its strategy around scaled growth platforms, contracted cash flows and selective new investments.