3 Dec 2018

Nelson City Council’s financial outlook remains stable as Standard and Poor’s ‘AA/A-1+’ credit rating affirmed

Credit rating agency, Standard and Poor's, has affirmed its AA long-term and A-1+ short-term credit rating with a stable outlook for the Nelson City Council.

The stable credit rating outlook reflects Standard and Poor’s expectation that although Council will record small after-capital-account deficits during the next few years as it rolls out a larger infrastructure programme, Nelson's debt burden should remain moderate.

According to the Standard and Poor’s credit rating agency, “Nelson continues to be supported by its robust financial management, budgetary flexibility, and strong liquidity.”

Council’s Chair of Governance Committee, Ian Barker, says the stable credit rating is evidence of Council’s strong financial practices and forward-thinking approach, as Council shapes its efforts implementing the Long Term Plan 2018-28.

"It’s great to see Council maintaining a stable outlook for its programme of works over the next 10 years."