Standard & Poors ‘rates’ Tasman

Tasman District Council’s credit rating has been raised in the latest Standard and Poors ratings.

Released today by the international credit rating agency, the Council has attained AA with a stable outlook, a step up from the previous AA- with a positive outlook.

It is always pleasing to see such positive recognition of our financial strategy and strong financial management, said Tasman Mayor Richard Kempthorne. “It is even more pleasing when it is given with the full knowledge of recent announcements regarding increased costs and funding changes for the Waimea Community Dam.”

The announcement identifies the Council’s very strong financial position and endorses its financial performance, good liquidity and budget flexibility.

“This is precisely where we said we should be when we revised our financial strategy for the 2015 Long Term Plan which dictated a self-imposed debt level and rates revenue cap, however, we also said it is a long term plan. We are very aware we need to keep working at this strategy, as we confirmed in the 2018 LTP, in order to maintain manageable rates and an equitable level of debt while delivering essential services and infrastructure to one of the country’s fastest growing areas.”

ENDS
The full report can be found at www.tasman.govt.nz

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