Whanganui District credit rating upgraded as new wastewater plant closes chapter on embarrassing failure

Thu, 07 Jun 2018

By Jonathan Underhill June 7 (BusinessDesk) - Whanganui District Council has been rewarded for building a new wastewater plant within budget with cheaper borrowing costs via a credit rating upgrade at Standard & Poor's. The $42 million facility is in its commissioning phase and at full speed will take waste that is currently piped out to sea. The council, which predominantly borrows through the Local Government Funding Agency, expects the improved financial risk rating will lower borrowing costs on bank debt as well. Whanganui Distric...

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