Councils' credit ratings healthy amid water infrastructure spending

Water spending could swamp otherwise health credit ratings for councils.

Mon, 12 Apr 2021

Credit ratings for local councils have generally improved, but a ratings agency warns large infrastructure spending plans are eroding councils’ financial headroom.S&P Global Ratings summary of local body councils says many will likely budget for higher infrastructure spending in their upcoming 2021-2031 long-term plans, driven by 2020 backlogs.While credit quality has increased for the 24 New Zealand councils S&P rates it said, “these larger outlays are eroding headroom at current ratings”.In February 2021, S&P rai...

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