Markets

Californian power giant PG&E tanks after S&P downgrades it to junk

PG&E‘s credit rating was cut to junk at S&P Global Ratings, sending shares down more than 10% early Tuesday. The downgrade came as bad news has piled up for PG&E amid its potential liabilities from last year’s California wildfires, the credit-rating agency said. On Friday, the utility announced that its […]
Californian power giant PG&E tanks after S&P downgrades it to junk
Markets

S&P says a write-down of the NBN is now inevitable

S&P Global Ratings says a write-down of the NBN is now appears inevitable and prices for internet access will fall. And the market upheaval caused by the NBN isn’t over yet with mobile operators are likely to be pushed into investing heavily in their own network infrastructure This prolonged infrastructure […]
S&P says a write-down of the NBN is now inevitable
Markets

S&P has downgraded Telstra as the NBN hit reaches $3 billion

S&P Global Ratings has lowered Telstra’s long and short term ratings. The agency says Telstra’s strong incumbent position within the Australian telecommunications industry has “diminished”. And the earnings impact of migrating to the NBN is likely to be at least $3 billion. S&P Global Ratings has cut its ratings on […]
S&P has downgraded Telstra as the NBN hit reaches $3 billion