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International credit rating agency Standard and Poor’s has reaffirmed Christchurch City Council’s financial rating at AA- with a stable outlook.
“The AA- rating from Standard & Poor’s shows that despite the economic upheaval of the COVID-19 pandemic we remain on a strong financial footing,’’ says Council Acting General Manager, Finance and Commercial, Diane Brandish.
“This is in part due to the rigorous financial review that Chief Executive Dawn Baxendale has led, which resulted in $18 million worth of savings being made in our 2020/21 Annual Plan, supported by the city’s wealthy economic profile.’’