Govt rejects council ratings downgrades flowing on to LGFA
Simon Watts says the Local Government Funding Agency’s strong credit rating will act as a cushion for councils and their water CCOs.
Councils must deliver their water service delivery plans by September 7.
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Local Government Minister Simon Watts is not worried that S&P’s downgrading of 18 councils’ credit ratings last week might affect the Local Government Funding Agency.
The international ratings agency attributed the downgrades in part to its belief the new council-controlled water organisations
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