Watercare can't say whether borrowing costs will increase

Watercare uses debt to fund new growth infrastructure such as the central interceptor. (Image: Watercare)

Thu, 09 May 2024

According to Watercare, it's too early to say whether its cost of borrowing will increase once it achieves balance sheet separation from Auckland council.BusinessDesk understands debt servicing costs will likely increase under the model announced by the government and Auckland mayor Wayne Brown over the weekend, a position supported by comment from global credit ratings agency S&P.The plan, for the government to legislate to prevent Auckland council providing financial support to Watercare, will allow the water services provider to take...

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