02 March 2023
LGFA CREDIT RATINGS AFFIRMED BY S&P GLOBAL RATINGS at AA+/AAA
On 02 March 2023, S&P Global Ratings affirmed their long-term ratings on New Zealand Local Government Funding Agency (“LGFA”) at 'AA+' foreign-currency and 'AAA' local-currency and affirmed the short-term ratings at 'A-1+'.
All credit ratings have a stable outlook.
This reflects the view by S&P Global Ratings that there is an extremely high likelihood the New Zealand government would provide LGFA with extraordinary support in a stress scenario. S&P Global Ratings notes our strong public policy mandate and dominant market share of council lending, but this is offset by our highly concentrated lending portfolio.
A copy of the S&P Research Update is available below
Released on behalf of NZ Local Government Funding Agency Limited by Mark Butcher, Chief
Telephone +64 4 974 6744