LGFA raises council debt caps to 3x revenue

Brent Melville
Wed, 01 Jul 2020

The New Zealand Local Government Funding Agency has hiked the debt ceiling for local council borrowers to 300 percent of revenue until 2022, freeing up capital for councils to manage out of the covid-19 crisis. The council controlled organisation, which provides debt funding to NZ local authorities and council-controlled organisations, yesterday approved changes to its financial covenants allowing 30 councils with a credit rating of 'A' or higher to take on more debt, limited to no more than 300 percent across the June 2021 and 2022 financia...
ON THE MONEY: Boag, BNZ, Crimson and more
Victoria Young | Sat, 11 Jul 2020

Professional distancing We’re sure public relations expert and National Party stalwart Michelle Boag has had a few ups and downs in her colourful career, but you know things are rough when one of your...

JEHAN CASINADER: Politicians are the worst advertisement for democracy
Jehan Casinader | Sat, 11 Jul 2020

In Wellington, when it rains, it pours.In recent weeks, there has been a steady stream of political scandals. Blunders, sagas, hiccups and missteps – too many to count.These events remind us why so ma...

BRIAN GAYNOR: Aluminium smelter reaches use by date
Brian Gaynor | Sat, 11 Jul 2020

The negative market reaction to Rio Tinto’s announcement that it was winding down the Tiwai Point aluminium smelter was overdone, particularly for investors with long-term perspectives. The smelter...

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