NPDC's Strong Financial Position Confirmed

New Plymouth District Council continues to have the highest credit rating of any council in New Zealand, following the latest review by international credit agency Standard&Poor’s.

This week S&P confirmed NPDC’s AA+ rating – the highest currently possible for a local government in New Zealand.

S&P’s Corporate and Government Ratings Associate Director Kyran Curry says the rating continues to reflect the Council’s low debt position, sound liquidity levels, limited capital-expenditure requirements, and limited ownership of Council-controlled trading enterprises.

“These factors offset the Taranaki regional economy’s relatively narrow structure,” says Mr Curry.

“The stable outlook on New Plymouth reflects our expectation that the Council will maintain its prudent approach to managing its finances.”

S&P’s report says NPDC’s balance sheet remains strong compared to its peers’.

Mayor Peter Tennent says this independent rating confirms the excellent handling of the Council’s finances by NPDC staff and managers.

“This is the seventh year in a row that we have gained the highest credit rating of any Council in New Zealand,” says the Mayor.

“This reflects the steady hands that Council managers have on the financial tiller, and our plans to continue to be prudent in the long term.”


Standard&Poor's report (Two pages 24KB PDF)