S&P withdraws credit rating on Air New Zealand

WELLINGTON, June 19 (Reuters) - Rating agency Standard & Poor's said on Thursday it would withdraw its rating and outlook on national carrier Air New Zealand Ltd (AIR.NZ).

Standard & Poor's said it had withdrawn its unsolicited rating of BB and stable outlook without closer knowledge of the company's strategic and commercial response to high fuel prices.

"Without the full interaction of the company in the rating process, we feel we are no longer able to provide a credit opinion," the agency said in a statement.

Air New Zealand told Reuters it had retained the services of Moody's as its credit rating agency. Shares in Air New Zealand last traded at NZ$1.09, having traded between NZ$1.07 and NZ$3.13 over the past year.

On May 28, Air New Zealand issued its second profit downgrade in the space of a month, saying full-year operating earnings would fall by at least 25 percent because of higher fuel prices. (NZ$1=$1.32) (Reporting by Adrian Bathgate, editing by Mark Bendeich)