Tranz Rail credit rating suffers another cut

<p>Standard &#38 Poor’s have slashed New Zealand operator Tranz Rail’s credit rating from B minus to CCC, according to a report in the <em>Financial Review</em> .</p> <p>The cut follows an announcement from forest products group Carter Holt Harvey that it would not purchase any of Tranz Rail’s rollingstock assets, the paper reported. </p> <br />