Friday, 26 February 2021, 5:26 pm
Timaru District Council has been given a sound financial
bill of health by one of the world’s largest rating
agencies for the fifth year running.
The council has
again been given a rating of AA- with a stable outlook by
Fitch Ratings. The credit rating is an assessment of an
entity’s ability to pay its financial
obligations.
The report says the council demonstrates
the council had planned for stable financial performance
with achievable financial forecasts offering a measured
level of capital expenditure to upgrade key infrastructure
and community assets.
The report also highlighted
prudential and moderate expenditure growth, supported by