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

RatingsDirect_ResearchUpdateNewZealandLocalGovernmentFundingAgencyLtdRatingsAffirmedOutlookStable_57474348_Feb-27-2024.PDF
S&P Research Update - February 2024
Mimetype
PDF
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154.5 KB



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