Scoop has an Ethical Paywall
Hutt City Mayor welcomes credit rating
Hutt City Mayor welcomes credit rating and positive
outlook
Mayor David Ogden has welcomed
Standard and Poor’s affirmation of Hutt City Council’s
AA/A-1+ credit rating and its decision to revise the outlook
for Council upwards from stable to positive.
The rating agency has cited low debt levels, solid cash operating balances, and limited ownership of trading organisations as reasons for its opinion.
Mayor Ogden says the rating is an expression of confidence in the financial strategy the Council has followed during the six years of his mayoralty.
He believes that the Council’s performance in this area is one of the best in Australasia and thanked the Councillors and staff for assisting in “this terrific effort.”
“We have worked hard on getting the balance right between keeping rates and debt levels down and continuing to invest in services, infrastructure and facilities.
“Standard and Poor’s warns any change to this strategy could have a negative effect on council’s credit rating and outlook.
“Rest assured that we will be working towards maintaining the strategy,” he said.
ENDS
Gordon Campbell: On What’s Wrong With The Treaty Principles Bill
Watercare Services: No Cause For Concern After Slightly Elevated Levels Of Arsenic Detected In Treated Waikato River Water
Te Pāti Māori: Government’s First Year A ‘Catastrophe For Māori’
Department Of Internal Affairs: Samoan Citizenship Bill Passes Into Law
NZ National Party: National Acknowledges The Passing Of Hon Nikki Kaye
Mana Mokopuna: Children And Young People Share Vital Insights On Healing From Family Violence And Sexual Violence In New Report
NZ Government: PM Marks One Year In Government
