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Infrastructure
4 mins to read

Govt rejects council ratings downgrades flowing on to LGFA

Simon Watts says the Local Government Funding Agency’s strong credit rating will act as a cushion for councils and their water CCOs.

Councils must deliver their water service delivery plans by September 7.

Brent Edwards Tue, 25 Mar 2025

Local Government Minister Simon Watts is not worried that S&P’s downgrading of 18 councils’ credit ratings last week might affect the Local Government Funding Agency.

The international ratings agency attributed the downgrades in part to its belief the new council-controlled water organisations

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Brent Edwards Tue, 25 Mar 2025
Contact the Writer: brent@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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Tags
Three Waters reform Local Water Done Well infrastructure local councils CCOs Coalition Government S&P Ratings Services Local Government Funding Agency Simon Watts Stuart Henderson Tangi Utikere Labour Party
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