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Christchurch City Council's credit outlook improves
Monday, 7 December 2015
Christchurch City Council's credit outlook improves
International credit rating agency
Standard and Poor's has reaffirmed Christchurch City
Council's financial rating as A+ and improved its outlook to
stable.
The Council's Corporate Finance Unit Manager Diane Brandish says, "The Council is pleased that Standard and Poor's acknowledges our sound financial strategy.
We appreciate our progress being noted through an improved outlook and our A+ credit rating being maintained."
Standard and Poor's said "Christchurch is addressing potential funding shortfalls identified last year with a realistic financial strategy that includes rate increases, asset sales, and a revised capital program."
"Prudent decisions made as part of the Long Term Plan have put the Council back on a secure financial footing," says Diane Brandish.
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