Auckland: Mayor welcomes confirmation of AA credit rating
31 October 2013
Mayor welcomes confirmation of AA credit rating
Len Brown has welcomed the reaffirming of Auckland Council’s AA rating by global ratings agency Standard and Poor’s.
Len Brown said: “This is a reflection of our prudent approach to financial management, the strength of our region’s economy and our ability to work effectively with central government to address Auckland’s infrastructure challenges.
“I will be releasing my first budget for the second term very shortly. This will continue our focus on prudent financial management and low rates, while making the investments we need to support Auckland’s growth.”
An AA rating is the third-highest on the Standard & Poor’s credit rating scale. Auckland Council’s S&P rating of AA is higher than Fonterra, the major banks and Hamilton and Christchurch Councils.