Today S&P have published its new methodology for rating non-US public-sector funding agencies, which are specialised not-for-profit institutions established to secure and provide cost-efficient funding to public sector entities in their domicile country.
Where there is a change in methodology, credit rating agencies are required to immediately place credit ratings potentially affected by the change on methodology “under criteria observation”. As a result S&P have placed the short and long term credit ratings of ten institutions, including LGFA, under criteria observation (UCO). The UCO identifier will remain in place until the conclusion of the review under the changed criteria. S&P expect the review of ratings as a result of the new criteria to be completed within six months.
Mark Butcher, Chief Executive
NZ Local Government Funding Agency Ltd
+64 212236573