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Moody's Investors Service has revised the outlook on Vector's Baa1 senior unsecured rating from developing to stable.
Moody's analyst Spencer Ng said the rating action followed the completion of Vector's sale of its Wellington electricity network for $785 million. Proceeds from the sale are to go towards retiring debt.
The Baa1 rating reflected Vector's low business risk and stable cashflows generated from its distribution networks, Moody's said.
