NPDC retains high financial rating following independent assessment

Standard & Poor’s has reconfirmed NPDC’s AA/A-1+ credit rating. It says NPDC’s robust financial management, excellent liquidity and high level of budgetary flexibility support this rating.

In the last financial year the council returned a $320,000 general rates operating surplus.

“I’m very pleased the international and independent rating agency Standard & Poor’s has reconfirmed NPDC’s AA/A-1+ credit rating. NPDC manages assets worth $2.6 billion and its annual operating budget for the last financial year was $141 million, so this rating represents a big tick against robust financial management. It’s the highest possible rating a local government body can get in New Zealand, “ says NPDC Chief Financial Officer, Alan Bird.

After public consultation, NPDC is investing approximately $44 million over the next decade to improve water resilience and a further $21 million towards Zero Waste 2040.

NPDC manages the District’s water, more than 1,270 kilometres of roads, 1,600 hectares of parks and open spaces, 1,730 properties, Brooklands Zoo, Puke Ariki, Govett-Brewster Art Gallery, TSB Showplace and TSB Stadium, and TSB Festival of Lights.

ENDS

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