Spark New Zealand (NZE:SPK, ASX:SPK) Chief Financial Officer Stewart Taylor said the company "remains committed" to cut debt in response to S&P Global Ratings' action to revise the outlook on the telecommunications provider to negative from stable, according to a Thursday filing with the Australian and New Zealand bourses.
Taylor said the company is working towards improving earnings and free cash flow, as well as reviewing non-core assets.
The outlook change has no material impact on the company's near-term cost of funding, per the filing.
S&P also affirmed Spark's "A-" long-term and "A-2" short-term issuer credit ratings on Wednesday.
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