Nelson City Council long-term credit ratings re-affirmed at 'AA, A-1+' with a stable outlook

29 November 2017
Credit rating agency, Standard and Poor's, has re-affirmed its current AA long-term and A-1+ short-term credit rating for the Nelson City Council.

The stable credit rating outlook reflects Standard and Poor’s expectation that Council will improve its after-capital-account balance during the next few years while maintaining debt at a moderate level, even as it continues its capital investment programme into 2018.

“We consider Nelson’s ratings to be supported by its sound management and institutional framework, high level of budgetary flexibility and moderate debt burden relative to domestic peers."

Council’s Chair of Governance Committee, Ian Barker, says the stable credit rating is evidence of Council’s sound financial management and forward-thinking approach.

"It's pleasing to see our credit rating reflecting the hard work we've put into keeping a steady hand on the tiller, even while we push ahead with our programme of capital investment in the city's infrastructure."

Council Group Manager Corporate Services Nikki Harrison says the stable credit rating is very pleasing and will ensure continued favourable interest rates for Council.

ENDS

© Scoop Media