S&P's new rating methodology for public sector funders unlikely to result in cut to LGFA, investors say

Wed, 04 Jul 2018

By Jonathan Underhill July 4 (BusinessDesk) - New Zealand's Local Government Funding Agency, which sells bonds on behalf of local authorities, isn't expected to lose its sovereign-equalling credit rating as a result of Standard & Poor's new rating methodology for public sector funders, investors say. In May, S&P placed ratings on 10 non-US public-sector funding agencies under what it calls "under criteria observation" (UCO), including the LGFA. The ratings agency developed the new methodology in an attempt to better reflect the characteri...

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