Telecom boosts AAPT performance

Telecom has boosted the performance of its AAPT unit in Australia, ensuring the previously unprofitable business is not a risk to the company's credit rating, a Fitch Ratings analyst says.

The ratings agency is "comfortable" with the performance of AAPT after the company increased its promotion of the business and boosted sales.

Telecom, which has $3.1 billion of bonds outstanding, has an A rating and "stable" outlook at Fitch.