Standard & Poor’s Outlook Revision

Standard & Poor's Global Ratings has revised its credit rating outlook for Meridian Energy Limited (MEL) to BBB+/Negative from BBB+/Stable. Standard & Poor's stated that the negative outlook reflects the risk of a challenging operating environment for the two to three years post the closure of Rio Tinto's New Zealand Aluminum Smelter on 31st August 2021. At the same time, Standard & Poor's affirmed Meridian's 'BBB+' long-term issuer credit rating and 'A2' short term issuer credit rating. End CA:00356095 For:MEL Type:CREDIT Time:2020-07-10 14:17:35