Top Rating For Waitakere

Waitakere City Council has had its financial position re-affirmed by the international credit agency Standard & Poor’s.

The agency has assigned the Council it’s A+ long-term and A-1 short term ratings, which it held over the past 12 months.

The internationally recognised ratings give the Council access to a wider number of investors, and more competitive interest rates, potentially saving ratepayers thousands of dollars a year.

Ross Clow, chairperson of the Council’s Finance and Operational Performance Committee says the rating sends a strong message about the City’s financial position.

“Standard and Poor’s have gone through the books and told us that things are very solid. The rating is an affirmation of the direction the City is heading in and an endorsement of its financial management,” he says.
Only a handful of New Zealand cities and districts hold a credit rating from the likes of Standard & Poor’s. Waitakere’s ratings put it on a par with the likes of Tauranga City.

About Standard & Poor’s
Standard & Poor's is the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research, data and valuations. With 5000 employees located in 20 countries, Standard & Poor's is an essential part of the world's financial infrastructure and provides investors with the independent benchmarks they need to feel more confident about their investment and financial decisions.

ENDS

© Scoop Media