NZX Announcement
22 February 2021
LGFA CREDIT RATINGS RAISED BY S&P GLOBAL RATINGS to AA+/AAA
On 22 February 2021, S&P Global Ratings raised their long-term ratings on New Zealand to 'AA+' foreign-currency (FC) and 'AAA' local-currency (LC) and affirmed the short-term ratings at 'A-1+'.
S&P Global Ratings have subsequently raised the long-term FC rating on LGFA to 'AA+' and long-term LC rating to 'AAA', with a stable outlook.
This reflects the view by S&P Global Ratings that there is an extremely high likelihood the New Zealand government would provide LGFA with extraordinary support in a stress scenario, if needed.
![New Zealand Local Government Funding Agency Ltd. Ratings Raised After Similar Action On New Zealand; Outlook Stable.PDF](/sites/default/files/styles/sector_md/public/2021-08/New%20Zealand%20Local%20Government%20Funding%20Agency%20Ltd.%20Ratings%20Raised%20After%20Similar%20Action%20On%20New%20Zealand%3B%20Outlook%20Stable_0.PDF-p1.png?itok=Is0ZRnlW)
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