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Regional Council Financial Outlook Stable; AA Credit Rating Released
Hawke’s Bay Regional Council has been given a strong bill of financial health by one of the world’s largest independent credit rating agencies, Fitch Rating Services.
Fitch has given the Regional Council an AA rating. This rating indicates Regional Council is in a very strong position to meet its debt commitments in the future. It also issued a “stable” ratings outlook of F1+.
Regional Council Chair Hinewai Ormsby says the AA rating and outlook are votes of confidence in the council’s efforts to deliver value for money for ratepayers and enable us to access cheaper interest rates.
"Having a credit rating and associated intensive reviews undertaken by Fitch should also give our rate payers confidence as to the prudent financial management practices we adopt.”
“The AA rating means the Regional Council pays lower interest rates on the money it borrows in the future,” says Ms Ormsby. “Ultimately this then saves thousands of dollars for our ratepayers.”
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