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


Council delighted as AAA credit rating confirmed

22 November 2007


Council delighted as AAA credit rating is confirmed

New Plymouth District Council is delighted to receive today’s re-confirmation of its AAA credit rating from international rating agency Standard and Poor’s (S+P).

Mayor Peter Tennent says: “Triple-A is as good as it gets and for S+P to rate us so highly for the fourth successive year is simply fantastic news.

“It represents continuing vindication of our non-political and business-focused approach to finance and investments.”

NPDC is the only council in New Zealand to be rated AAA – the highest rating possible for any organisation.

“A triple-A rating is harder for a council to get in New Zealand in comparison to councils in some other countries,” says Chief Executive Rodger Kerr-Newell.

“Overseas governments can act as a financial back-stop for any of their councils that get in trouble, but that isn’t the case in New Zealand where councils have to stand on their own two feet.

“So S+P’s rating indicates just how robust NPDC’s approach is to finance and investment.”

A copy of S+P’s news release, in which it notes the council’s ‘strong balance sheet and high liquidity’, as well as its research update follow below.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Dutton 'Gone': Time For Australia To Reconsider On Refugees

Hard line Australian immigration Minister Peter Dutton’s move to the backbench should reopen a conversation about refugees on Nauru coming to New Zealand, Green MP Golriz Ghahraman has said today.

“Australia has a unique opportunity now that Peter Dutton has moved to the backbench.

“There are 119 children on Nauru who are languishing in despair. Every day spent in detention is another day robbed of their childhood and a safe and nurturing environment.” More>>


Maximum $100 Fine: AA Cautiously Welcomes Clamping Regulation

The AA has been calling for years for the private parking sector to be regulated, including banning the practice of wheel clamping. More>>


Ardern Speech: Justice Summit Opens

If we want to talk about an effective justice system, we shouldn’t start with a discussion about prisons, but a discussion about New Zealand... More>>


NZDF: New Chiefs Of Navy, Army And Air Force

“I’m delighted to announce that following approval by Cabinet, Commodore David Proctor, Brigadier John Boswell and Air Commodore Andrew Clark have been appointed by the Governor-General to lead their respective Services,” says Ron Mark. More>>


Christchurch Quake: New Red Zone Payment For Uninsured

The Government will pay former residential red zone owners 100% of the 2007/08 rateable value for uninsured homes, Minister Megan Woods has announced today. More>>


Gordon Campbell: On MP Pay And The REAL P.C. Danger Zone

There has never been anything remotely credible about the way parliamentarians would paint themselves as the helpless victims of the Remuneration Authority when it came to their pay increases... More>>


Repatriation: Remains Of NZ Service People Return Home

Prime Minister Jacinda Ardern and Minister for Veterans Ron Mark say they were honoured to be with the families of service personnel as they welcomed their loved ones home. More>>


Cop Shop Top-Up: 1800 New Police Through NZ

Police Commissioner Mike Bush has today confirmed further details around the allocation of the 1800 additional officers, following a $298.8 million increase for Police in Budget 2018... “These 1800 officers, alongside 485 support staff, will really enhance our work to keep people safe, and ensure they feel safe,” says Mr Bush. More>>


Human Right Commissions: Concern On Aged Care And Consent

A new report published by the Human Rights Commission raises concerns about the legal and human rights safeguards for an estimated 5000 elderly New Zealanders in secure dementia units and psychogeriatric facilities. More>>





Featured InfoPages