Mayor Bernie Wanden says he is pleased that Council has maintained its AA- long-term and A-1+ short-term issuer credit rating with a stable outlook on the long-term rating from Standard & Poor's (S&P) Global Ratings.

"An AA-/A-1+ rating means that Council is considered to have a strong capacity to meet its financial commitments. It should also reassure our community and ratepayers that our books are in order, that Council is financially well-managed, and that the district is on the right track. A stable outlook means that Council's financial position will remain strong over the medium term," explains Mayor Bernie.

The ratings are based on S&P Global Ratings' assessment of Council's financial management, New Zealand's institutional settings and the district's economic profile.

"This rating can be important for Council's ability to borrow money, as lenders may be more willing to lend to an entity with a strong credit rating. Council's rating confirms our strong financial management. It assures lenders that any debt carried comes with very low credit risk and that we have a strong capacity to repay any future debt needed for significant infrastructure or unplanned events," says Jacinta Straker, Group Manager Organisation Performance.

The report states that strong financial management and New Zealand's excellent institutional settings support Council's credit profile. This framework is one of the strongest and most predictable globally, as it promotes a robust management culture and fiscal discipline with high transparency and disclosure.

"It is reassuring to have the ratings affirmed as it also affects Council's ability to secure lower interest rates, thereby making significant savings," Straker adds.

Council's Chief Executive Monique Davidson says, "This report from S&P confirms our forward looking approach to financial management. The fact that Council prepares long term plans every three years and annual plans in the intervening years set the foundation for prudent financial management and are an essential baseline for Council's operating and capex requirements."

The report also outlines that Horowhenua has a relatively balanced economy. Economic risks to the region include inflation, rising interest rates and supply chain disruptions. These factors also affect economic growth nationally and not only in the Horowhenua district.

S&P also highlights the potential benefit of the Wellington Northern Corridor Expressway to accelerate economic development and population growth in the future by cutting the travel times and freight costs between Horowhenua and Wellington. Council is in the midst of a large capital programme, which is needed to address the needs of a growing population. S&P expects Council's liquidity position to be stronger than that of domestic peers. The affirmed ratings reassure Council's ability to borrow funds for Horowhenua's infrastructure pipeline.

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