S&P revises Chorus debt to EBITDA threshold upwards

STOCK EXCHANGE ANNOUNCEMENT 20 November 2019 S&P revises Chorus debt to EBITDA threshold upwards S&P has released the attached update on Chorus. The update states that the downgrade threshold for Chorus has been revised to a debt to EBITDA ratio of 4.25x at the current rating level, compared with a debt to EBITDA ratio of 4x previously. The long-term rating remains at BBB stable. ENDS For further information: Brett Jackson Investor Relations Manager Phone: +64 4 896 4039 Mobile: +64 (27) 488 7808 Email: brett.jackson@chorus.co.nz Nathan Beaumont Stakeholder Communications Manager Phone: +64 4 896 4352 Mobile: +64 (21) 243 8412 Email: Nathan.Beaumont@chorus.co.nz End CA:00344618 For:CNU Type:GENERAL Time:2019-11-20 14:25:09