S&P Global Ratings Research Update for WRC Holdings Ltd., February 2024

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S&P Global Ratings Research Update for WRC Holdings Ltd., February 2024 preview
  • Published Date Wed 21 Feb 2024
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WRC Holdings Outlook Revised to Negative; 'AA+/A-1+' Ratings Affirmed

Overview

  • WRC Holdings Ltd. (WRCH) benefits from an almost-certain likelihood of receiving timely extraordinary support from its sole owner, Greater Wellington Regional Council, based on its critical role and integral link to the council.
  • We revised our long-term rating outlook on WRCH to negative from stable. At the same time, we affirmed our 'AA+/A-1+' long- and short-term issuer credit ratings on WRCH.
  • The negative outlook on the long-term rating reflects that on Greater Wellington.
Updated February 21, 2024 at 2:10 PM