Wellington regional council gets credit upgrade

Greater Wellington Regional Council has had its credit rating upgraded by Standard & Poor's Ratings Services to AA from AA minus. The rating has a stable outlook.

The credit rating company said it has revised its methodology and assumptions for rating international local and regional government entities.

"The strength of this framework has always provided support to our credit ratings on New Zealand local governments, but our revised criteria places further emphasis on a country's institutional framework," Standard & Poor's credit analyst Kyran Curry said.

"The ratings are also supported by a track record of fiscal discipline and a soundly performing local economy that offsets weakening budgetary performance and rising debt levels associated with investment in transport infrastructure."

NZPA

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

May 1st Morning Report
GTK - Gentrack's Veovo Acquires Dubai Technology Partners
SML - Additional information following Bright Dairy announcement
April 30th Morning Report
Rua Bioscience Market Update
FSF - Fonterra announces interim leadership changes
April 29th Morning Report
NZK - Blue Endeavour Pilot Farm and Wellboat Update
TRU - FY 31 March 2026 Revenue and Results Guidance Achieved
FBU - Fletcher Building sale of Fletcher Reinforcing and Wire