30 March 2026
The New Zealand Local Government Funding Agency welcomes Waikato Waters as the first water CCO member
Waikato Waters Limited has acceded to the New Zealand Local Government Funding Agency (LGFA) as the first water CCO member under the Local Water Done Well Programme. Waikato Waters is a multi-council water CCO owned by Hauraki District Council, Ōtorohanga District Council, Matamata-Piako District Council, South Waikato District Council, Waipa District Council, and Waitomo District Council. Waikato Waters is the first of a potential eighteen water CCOs expected to join LGFA by 1 July 2027.
Based on its Water Service Delvey Plan, Waikato Waters is forecast to borrow $297million in new debt by 2034 contributing to their $757million capital programme.
LGFA is an agency specialised in financing the New Zealand local government sector. LGFA was established in late 2011 to raise debt on behalf of the sector on terms that are more favourable to them than if they raised the debt directly. LGFA is a CCO that is owned by the New Zealand Government and thirty council shareholders and has the same AAA/AA+ credit rating as the New Zealand Government at AAA/AA+. LGFA currently lends to seventy-seven councils and eight CCOs and has 80% market share of all council borrowing.
The accession is a significant achievement for both LGFA and Waikato Waters Limited and is the start of a new chapter in LGFA lending to water organisations. LGFA continues to work with councils, water CCO’s and the establishment teams around New Zealand to ensure the water CCO’s have access to cost effective, long dated financing.
For further information contact
Mark Butcher
Chief Executive.
Telephone +64 4 974 6744
Email mark.butcher@lgfa.co.nz
Website lgfa.co.nz