Contact Energy's BBB+ credit rating has been put on creditwatch by Standard & Poor's, which means it may be downgraded.
The company's credit rating is five notches above the BB- rating of 51 per cent shareholder Edison Mission Energy (EME).
S&P said EME's recent credit rating downgrade means there was more incentive for EME "to upstream assistance from its subsidiaries".
AdvertisementAdvertise with NZME.
Latest from Business
Security company worker pilfers $466k, using his children as decoys, in years-long swindle
'You breached that fundamental trust they had in you.'