29 SEPTEMBER 2016

Hutt City Council retains excellent credit rating

Hutt City Council’s excellent financial management has again resulted in AA long-term and A-1+ short term credit ratings from Standard and Poor’s.

Council’s new Chief Financial Officer Brent Kibblewhite says, “Standard and Poor’s is one of the world’s leading providers of credit ratings so an affirmation of Hutt City Council’s very strong financial management and strong budgetary flexibility is a big vote of confidence.

“In recent years this Council has committed more than $100 million on a range of projects to rejuvenate our city. Our history of robust financial management means we’ve been able to balance continued fiscal responsibility with investments in these new projects.”

Some of these projects include: the completion of the Walter Nash Centre in Taita, and Pukeatua Bridge on Wainuiomata Hill last year, the redevelopment of Avalon Park with a new playground opening this weekend, the soon to be completed Walter Mildenhall Park development in Naenae, and phase two of the Riddiford Gardens redevelopment.

Progress on the Hutt City Events Centre, capable of holding large-scale community and commercial events in the Lower Hutt CBD is well underway, work on two new pools at the Huia Pool complex has also begun and next month work on a new community hub in Stokes Valley will begin.

“It is an exciting time to be in Lower Hutt and rewarding to be part of a Council making things happen,” says Mr Kibblewhite.

ENDS

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