Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Financial Rating Outlook Remains Stable

Financial Rating Outlook Remains Stable

Dunedin (Thursday, 4 December 2014) – The Dunedin City Council has maintained its financial rating.

In a Research Update released today, Standard and Poor’s (S & P) has affirmed the AA long-term and A-1+ short-term issuer credit ratings.

DCC Group Chief Financial Officer Grant McKenzie says it is pleasing to have the rating affirmed.

“This reflects the ongoing work by elected members and staff to limit operational spending and reduce debt levels.”

In its 2014 update, S & P states the ratings reflect its view of New Zealand’s extremely predictable and supportive institutional framework, plus Dunedin’s strong financial management and very strong budgetary performance.

“The stable outlook reflects our expectations that Dunedin will continue to manage its financial position in line with our forecasts.”

S & P is expected to release its full report in about a week.

ENDS

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
GenPro: General Practices Begin Issuing Clause 14 Notices

GenPro has been copied into a rising number of Clause 14 notices issued since the NZNO lodged its Primary Practice Pay Equity Claim against General Practice employers in December 2023.More

SPADA: Screen Industry Unites For Streaming Platform Regulation & Intellectual Property Protections

In an unprecedented international collaboration, representatives of screen producing organisations from around the world have released a joint statement.More

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.