Fitch Upgrade LGFA Long Term Foreign-Currency Rating to AA+
NZX Announcement
18 September 2022
LGFA LONG-TERM FOREIGN-CURRENCY CREDIT RATING UPGRADED TO AA+ BY FITCH RATINGS
On 22 January 2020, Fitch Ratings (Fitch) revised the Outlook for the New Zealand Local Government Funding Agency’s Long-Term Foreign-Currency Issuer Default Rating (IDR) of “AA” to Positive from Stable.
Fitch have revised the Long-Term Foreign-Currency IDR to “AA+” with a Stable Outlook. This is the same credit rating as the New Zealand Government and under the Fitch methodology the LGFA IDR is equalized to that of the New Zealand Government.
There is no change to the Long-Term Local-Currency IDR of “AA+” with Stable Outlook.
