Fitch Revise LGFA Long Term Foreign Currency Outlook

NZX Announcement

28 January 2020

LGFA LONG-TERM FOREIGN-CURRENCY CREDIT RATING OUTLOOK REVISED TO POSITIVE BY FITCH RATINGS

On 22 January 2020, Fitch Ratings (Fitch) revised the Outlook for the New Zealand Government’s Long-Term Foreign-Currency Issuer Default Rating (IDR) of “AA” to Positive from Stable.  

Following the change to the New Zealand Government outlook, Fitch have today placed the “AA” Long Term Foreign Currency IDR of LGFA on Positive Outlook. This reflects the strong credit linkage between the two entities.

There is no change to the Long-Term Local-Currency IDR of “AA+” with Stable Outlook for either the New Zealand Government or LGFA.

A copy of the Fitch report is attached 

ENDS

Released on behalf of NZ Local Government Funding Agency Limited by Mark Butcher, Chief Executive.

Telephone          +64 4 974 6744

Email                  mark.butcher@lgfa.co.nz

Website              lgfa.co.nz

 

28 Jan 2020