Spark Notifies of S&P Outlook Update

Spark New Zealand Limited   
ARBN 050 611 277 Spark City, Level 1, 50 Albert Street, Private Bag 92028, Auckland, New Zealand 



MARKET RELEASE – THURSDAY, 6 MARCH 2025


Spark Notifies of S&P Outlook Update


Spark New Zealand (Spark) notes the announcement made today by S&P Global Ratings (S&P) that it has
placed its issuer credit rating of A- Stable on negative outlook/watch.

Spark CFO Stewart Taylor said, “Although Spark’s net debt has increased in the last year, management
remains committed to reducing debt levels by improving earnings and free cash flow and reviewing the
ownership of non-core assets.

“Since the announcement of our H1 25 results we have completed the sale of our remaining stake in
Connexa, which delivered cash proceeds of ~$311 million and will be used to reduce our net debt.”

The change in outlook will not have a material impact on the Company’s cost of funding in the near-term.
Spark continues to engage with S&P around its debt levels, earnings profile, and review of its future capital
structure.

Authorised by:
Rodney Deacon
Finance Lead Partner – Investor Relations and Commercial


For more information contact

For media queries please contact:
Althea Lovell
Corporate Relations Lead Partner
(64) 21 222 2992
althea.lovell@spark.co.nz

For investor queries please contact:
Rodney Deacon
Finance Lead Partner – Investor Relations and Commercial
(64) 21 631 074
rodney.deacon@spark.co.nz



About Spark

As New Zealand's largest telecommunications and digital services company, Spark’s purpose is to help all
of New Zealand win big in a digital world. Spark provides mobile, broadband, and digital services to
millions of New Zealanders and thousands of New Zealand businesses.
www.sparknz.co.nz