INDEPENDENT NEWS

KCDC's Improved Credit Rating

Published: Sun 28 Jul 2019 06:58 PM
KCDC's Improved Credit Rating
Guy Burns, Deputy Chair of the Paraparaumu Raumati Community Board, welcomes the news of Council’s improved credit rating outlook; up from A plus to AA.
“This jump is a direct result of KCDC abandoning (due to public pressure) its ridiculous ‘loans for investment’ plan. The scheme was to borrow money to invest in the financial market, this would have increased pressure on our high debt level.
“The improved credit rating is only one measurement of Council. Huge staff costs are a concern and an in-depth independent review of this expenditure is urgently needed.
This is my view and not of the Raumati Paraparaumu Community Board as a whole.
Guy Burns
Deputy Chair Raumati Paraparaumu Community Board

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