Spark has maintained its solid market positions in fixed and mobile telecommunications products and services in New Zealand, a top-two revenue share in the mobile market, and a large share in fixed-line voice and broadband. Offsetting these strengths is Spark's exposure to structurally declining voice telephony products and services and the competitive nature of the New Zealand telecommunications markets. We are affirming our 'A-' corporate credit rating on Spark. The outlook remains stable, reflecting our expectation that the company will maintain its robust financial risk profile, large market shares, and prudent capital management to mitigate the group's exposure to structurally declining fixed-line revenues and intensifying competition. On May 30, 2017, S&P Global Ratings affirmed its 'A-' long-term corporate credit rating
