Standard & Poor's has downgraded Telecom NZ's credit rating by one notch, following the structural separation of Telecom NZ's fixed access network business into a separate entity, Chorus, which cleared is final hurdle last week.
The long planned structural separation of Telecom New Zealand that will see the operator of its access network hived off as a separately listed company, Chorus, has passed its last hurdle and will be completed on 30 November.
Ericsson has been awarded a contract to supply optical fibre cable for the New Zealand Government's Ultra Fast Broadband network - the equivalent of Australia's NBN.
In a deal that will precipitate its structural separation Telecom New Zealand has won the lion's share of Government contracts for the rollout of the Ultrafast Broadband Network that will deliver fibre to 75 percent of New Zealand homes by 2019.
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