Auckland Council ratings re-affirmed, with a warning on debt

Thu, 01 Oct 2020

S&P Global has affirmed Auckland Council's 'AA' credit rating on the strength of the local body's financial management policies, although the rating agency says the city's budgetary performance and debt profile could temper its credit strengths.Analysts Rebecca Hrvatin and Anthony Walker said an expected economic shock next year will weigh on the council as infrastructure spending drives up debt and widens deficits, offset by asset sales and rates hikes.S&P said with an average GDP per capita of $71,000 last year com...

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