Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search


Auckland City keeps AA+ credit rating

Auckland City keeps AA+ credit rating

Auckland City was informed yesterday that Standard and Poor’s have maintained the council’s long-term credit rating at AA+.

Standard and Poor’s said that Auckland City’s increase in debt levels is expected to remain consistent with a AA+ rating.

Councillor Vern Walsh, chair of Auckland City’s Finance and Corporate Business Committee said the affirmed rating is evidence that the council continues to manage the city’s finances responsibly.

“We have budgeted for a large programme of capital works in the city over the next 10 years that will benefit Aucklanders now, and help create a great city for the future,” he said.

“We look at every option to relieve the burden on ratepayers. One funding option that we have taken advantage of as part of our long-term budget is borrowing,” he said.

“Borrowing now to fund much-needed infrastructure means that the burden of growth and development does not rest solely with the ratepayers of today. It allows us to spread the investment in the city over Aucklanders who will also benefit from it in the future.”

“This is the most responsible way of funding the priorities for the city while helping us manage our rates increases.”

Auckland City’s long-term plan published in July this year forecasts that the council will borrow approximately $1.5 billion over the next 10 years.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>


Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>


Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>


Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>


With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>


Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news