NZX Announcement
28 February 2024
LGFA CREDIT RATINGS AFFIRMED BY S&P GLOBAL RATINGS at AA+/AAA
On 28 February 2024, S&P Global Ratings affirmed their long-term ratings on New Zealand Local Government Funding Agency (“LGFA”) at 'AA+' foreign-currency and 'AAA' local-currency and affirmed the short-term ratings at 'A-1+'.
All credit ratings have a stable outlook.
This reflects the view by S&P Global Ratings that LGFA has a dominant market position as a source of financing for councils and an extremely high likelihood that extraordinary financial support from the New Zealand Government would be forthcoming in a stress scenario.
A copy of the S&P Research Update is available below
ENDS
Released on behalf of NZ Local Government Funding Agency Limited by Mark Butcher, Chief
Executive.
Telephone +64 4 974 6744
Email mark.butcher@lgfa.co.nz
Website lgfa.co.nz