Whanganui Chronicle
  • Whanganui Chronicle home
  • Latest news
  • Sport
  • Business
  • Opinion
  • Lifestyle
  • Property
  • Death notices
  • Classifieds

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • On The Up
  • Sport
  • Business
  • Opinion
  • Lifestyle
  • Property
    • All Property
    • Residential property listings
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology

Locations

  • Taranaki
  • National Park
  • Whakapapa
  • Ohakune
  • Raetihi
  • Taihape
  • Marton
  • Feilding
  • Palmerston North

Media

  • Video
  • Photo galleries
  • Today's Paper - E-Editions
  • Photo sales
  • Classifieds

Weather

  • New Plymouth
  • Whanganui
  • Palmertson North
  • Levin

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Whanganui Chronicle

Council rating may attract investment

By John Maslin
Whanganui Chronicle·
12 Nov, 2013 05:24 PM2 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

Wanganui District Council PHOTO/FILE

Wanganui District Council PHOTO/FILE

The Wanganui District Council has been given a credit rating in line with the country's three major banks and on the strength of that expects to find it easier attracting investors.

The international financial rating agency Standard & Poors has given the council an AA- credit rating.

Julian Harkness, council's finance and corporate manager, told councillors this week that the rating was part of council's 10-year plan.

The first part was to issue short-term bonds, then join the New Zealand Local Government Funding Agency (LGFA), with achieving a credit rating the final step.

Mr Harkness said the council carried $84 million in external debt which, according to the 10-year plan, would increase in coming years.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

"A significant portion of this new debt would be sourced from the LGFA which offers interest savings for those councils with favourable credit ratings," he said.

"And given we'll need funding for the $24 million wastewater treatment plant upgrade, this rating will be helpful."

It is the first time the Wanganui council has had a credit rating. "At a time when it's hard to get some investors to invest, a credit rating does make a difference."

Advertisement
Advertise with NZME.

But Mr Harkness warned that a downward trend in the rate "would not be good".

Getting access to a bigger pool of lenders is the prime reason behind the decision to secure an internationally-recognised credit rating.

It is a move that will cost about $50,000, with ongoing annual costs of a similar amount, but council officers say that will be more than compensated through interest savings that would follow from achieving a credit rating.

At the moment about 60 per cent of the country's councils have credit ratings, ranging from AA to A+.

Mayor Annette Main called the credit rating was a vote of confidence in council's "prudent financial management, budget flexibility and transparency".

Ms Main said it would also give added confidence to the council's bond holders.

Save

    Share this article

Latest from Whanganui Chronicle

Whanganui Chronicle

Search for missing man continues after car pulled from river

10 Jul 11:09 PM
Whanganui Chronicle

Community group seeks to manage historic reserve

10 Jul 06:00 PM
Whanganui Chronicle

Chaos as Ruapehu council rejects officials' advice on water

10 Jul 03:15 AM

From early mornings to easy living

sponsored
Advertisement
Advertise with NZME.

Latest from Whanganui Chronicle

Search for missing man continues after car pulled from river

Search for missing man continues after car pulled from river

10 Jul 11:09 PM

Kahukura Gill was not inside the car, which was found in the Whanganui River on July 2.

Community group seeks to manage historic reserve

Community group seeks to manage historic reserve

10 Jul 06:00 PM
Chaos as Ruapehu council rejects officials' advice on water

Chaos as Ruapehu council rejects officials' advice on water

10 Jul 03:15 AM
Strong winds bring weather warning and watches

Strong winds bring weather warning and watches

10 Jul 03:00 AM
Solar bat monitors uncover secrets of Auckland’s night sky
sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • Whanganui Chronicle e-edition
  • Manage your print subscription
  • Manage your digital subscription
  • Subscribe to Herald Premium
  • Subscribe to the Whanganui Chronicle
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • Whanganui Chronicle
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • NZME Events
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • © Copyright 2025 NZME Publishing Limited
TOP