S&P raises concerns about rates caps for New Zealand councils
It says councils are likely to have to defer or cancel spending on infrastructure.
Water entities are likely to be rated lower by S&P because they will be more highly leveraged than councils.
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International ratings agency S&P believes rates capping will inhibit the ability of New Zealand’s highly indebted councils to raise revenue, but it is not about to downgrade their ratings any time soon.
S&P director of sovereign and international public finance ratings Anthony Walker told a
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