International rating agency Standard and Poor's has reaffirmed Taupo District Council's credit rating as AA.
In their independent report, the agency noted Council's financial management, budgetary performance and liquidity continued to support this rating, and it expected Council's debt to decline relative to revenues as it maintained its strong operating position.
Head of finance and strategy Alan Menhennet said Standard and Poor's carried out annual assessments of most councils in New Zealand and this year's report underlined the strength and stability of Council's financial management.
"The AA rating is the highest that can currently be attained by a council, so it really reflects our strong commitment to achieving the best outcomes for the Taupō District," he said. "The report also shows we are on the right track to improving our financial position while still delivering the same high levels of service."
June 5 2018
FOR FURTHER INFORMATION CONTACT:
Lisa Nairne • Head of Communications and Customer Relations • 07 376 0762 • 027 839 8410
Andy Taylor • Senior Communications Advisor • 07 376 0781 • 027 570 4651