Dunedin City Council – Media Release
Financial Rating Outlook Remains Stable
This item was published on 04 Dec 2014
The Dunedin City Council has maintained its financial rating. In a Research Update released today, Standard and Poor’s (S & P) has affirmed the AA long-term and A-1+ short-term issuer credit ratings.
DCC Group Chief Financial Officer Grant McKenzie says it is pleasing to have the rating affirmed. “This reflects the ongoing work by elected members and staff to limit operational spending and reduce debt levels.”
In its 2014 update, S & P states the ratings reflect its view of New Zealand’s extremely predictable and supportive institutional framework, plus Dunedin’s strong financial management and very strong budgetary performance. “The stable outlook reflects our expectations that Dunedin will continue to manage its financial position in line with our forecasts.”
█ S & P is expected to release its full report in about a week.
Contact Grant McKenzie, Group Chief Financial Officer on 03 474 3849.
LARGE DROP IN EXPENDITURE DUE TO DELAYED PROJECTS
### dunedintv.co.nz December 4, 2014 – 5:43pm
DCC coming in under budget in latest financial results
As the year draws to a close, the city council’s latest financial results are being analysed. Overall things are looking good for the council, with many expenses coming in under budget. But the favourable accounts have highlighted a problem with one particular service.
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[DCC refuses to answer, processing . . . ]
Posted by Elizabeth Kerr
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