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Council rating raised to AA+ to reflect very strong financial management

Contributor:
Fuseworks Media
Fuseworks Media

Taupō District Council's long term credit rating has been raised to AA+ by international credit rating agency Standard and Poor's, with a stable outlook.

In their report, Standard and Poor’s highlighted Taupō’s very strong financial management for the raise from AA to AA+.

"Our ratings on Taupō reflect its experienced financial management, which is funding capital expenditure through strong operating surpluses and maintaining exceptional liquidity coverage," the report said.

Mayor David Trewavas said the raised rating was credit to council, management and staff who were working in the best interests of the district.

"The rating is a strong endorsement and reflects the council’s sound financial position and good management," he said.

"Our financial performance is an important part of what drives our district forward and having the confidence from a world-renowned credit rating agency with a rating that matches New Zealand’s recently upgraded credit rating is very encouraging."

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