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


Hutt City Again Gets AA Credit Rating


22 August 2013

Hutt City Again Gets AA Credit Rating

International credit rating agency Standard & Poor’s has reaffirmed Hutt City Council’s AA credit rating.

An AA rating is the same rating as the NZ government and means recipients have a “very strong capacity to meet their financial commitments”.

Lower Hutt Mayor Ray Wallace says the rating underlines the council’s careful approach to managing ratepayers’ money and makes the council one of the most creditworthy in the country.

“We are currently the only New Zealand council rated by Standard &Poor’s that consistently achieves after-capital account surpluses,” he says.

Hutt City’s financial management was described by the agency as a very positive factor in the ratings. The agency says council is supported by an experienced and qualified management team.

Chair of the Finance and Audit Committee, Deputy Mayor David Bassett, described the rating as a vote of confidence in the Hutt City Council’s management of its finances and plans for the future.

“The agency has a very positive view of Hutt’s financial management practices and says the city’s budgetary performance is very strong and our operating position is expected to improve in the future.

“This is a statement about confidence in our managerial and councillor management of the city’s finances,” says the Deputy Mayor.

“Their outlook is that we will continue to manage our financial position and hold our AA rating.

“I believe this a very positive outcome for our city,” he says.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Juggling Covid, And France’s Trump-like Populist

It is the age-old Covid problem. How to balance the needs for firms (and schools) to re-open against the need to protect public health. In the past, the balance has been struck by insisting that the best public health outcomes also deliver the best economic (and educational) outcomes. While that may still be objectively true, it is no longer a politically tenable position... More>>

Covid-19 & Education: NCEA And NZ Scholarship Exams To Proceed

NCEA and New Zealand Scholarship exams will proceed, including in areas where Alert Level 3 has been in place, Education Minister Chris Hipkins said today. “The New Zealand Qualifications Authority, Ministry of Education and Ministry of Health have been working together to ensure exams can be managed in a safe way, so students have the opportunity to demonstrate what they have learned... More>>


Ombudsman: Launches Investigation Into MIQ Booking System
The Chief Ombudsman Peter Boshier is launching a broad investigation into the Managed Isolation and Quarantine (MIQ) booking system after receiving hundreds of complaints... More>>


National: Launches Back In Business Plan

Leader of the Opposition Judith Collins has today launched National’s detailed plan to save livelihoods and unleash our economy in the face of the huge damage being wrought by the extended Covid lockdown... More>>


Pay Cheque To Pay Cheque: Half A Million New Zealanders Have No Savings
New findings from the Consumer NZ sentiment tracker found that 15% of New Zealanders had no savings, and a further 27% were anxious about their level of savings and would like to have more tucked away... More>>

Government: Mandatory Vaccination For Two Workforces

Large parts of two workforces critical to preventing the spread of COVID-19 will be required to be vaccinated, COVID-19 Response Minister Chris Hipkins said today. “Our education and health and disability workforces have done an incredible job throughout this pandemic to keep themselves and people safe,” Chris Hipkins said.... More>>

Green Party: Deeply Concerned Space Launches May Be Breaching Nuclear-free Laws

The Green Party is deeply concerned that space launches by Rocket Lab may be breaching nuclear-free laws, given our long-standing position as a signatory of the Nuclear Non-Proliferation Treaty... More>>




InfoPages News Channels