HDC Retains A+ Credit Rating

April 13, 2018

The Horowhenua District Council has retained its A+ rating for long-term foreign and local currency.

 

Council Chief Executive David Clapperton says the independent analysis by S&P Gobal should provide ratepayers with reassurance that Council is financially well-managed and on the right track.

 

The credit rating process takes into account whether an organisation can service its debt.

 

S&P Global in its report says that a supportive institutional framework, strong management, and broadly supportive economy underpin council’s creditworthiness.

 

Their report says that capital spending will remain high, leading to after-capital deficits, but a sustainable debt burden, while liquidity improved and is ‘broadly stable’.

 

It states the district is set to transform from a period of stagnation - economic growth rose to 3.5% in 2016 compared to average growth of 0.5% during the past ten years.

 

It’s expected that the Wellington Northern Corridor project may lead to Horowhenua being more desirable and productive, and provide opportunities for population and industry growth.

 

 

 

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