10 Sep 2009

Contact Energy credit rating downgraded

7:05 am on 10 September 2009

Credit rating agency Fitch has downgraded Contact Energy from a BBB+ rating to BBB.

The decision is based on Contact's capital expenditure projects and current debt levels.

Contact managing director David Baldwin said the move brings Fitch into line with Standard & Poor's BBB rating of Contact which has been recently confirmed.