Kāpiti credit rating remains stable in latest assessment

Kāpiti Coast District Council’s credit rating has been affirmed as AA- Stable outlook by ratings agency S&P Global.

In its latest report S&P Global confirmed the new rating which was amended in March.

In its latest report S&P Global said the Council’s sound financial management was an important factor in maintaining the March rating and the positive outlook.

Acting Chief Executive Sean Mallon says Council is in a strong position.

“We’re considered to be ‘very predictable and well-balanced’, driven by good management and our district’s robust economic profile,” Mr Mallon says.

“We’ve got some good strategies in place to continue to reduce our debt and invest in the Kāpiti Coast’s resilience which will help keep us in good shape.”

S&P said the rating could improve if Council’s debt to operating ratio improves.

The rating could be lowered if proposed rates increases are dropped, or capital spending increases.

The latest S&P Global report is available to read on the Council website.