Published on 31 October 2025

Upper Hutt City Council is pleased with the latest S&P Global Ratings assessment, which has affirmed the Council’s long-term issuer credit rating at ‘A’ and short-term rating at ‘A-1’, while revising the outlook from stable to positive.

The revision reflects S&P’s confidence in the Council’s improving financial position and sound fiscal management. This recognition aligns closely with the Council’s ‘back-to-basics’ approach set out in its Long Term Plan 2024-2034 financial strategy, which prioritises core services, responsible investment, and financial sustainability.

S&P Global noted that the Council’s financial trajectory is strengthening, supported by disciplined management of expenditure, prudent debt levels, and a commitment to rebuilding fiscal buffers.

The positive outlook also acknowledges the potential long-term benefits of the proposed separation of water services under the Government’s Local Water Done Well programme, while recognising the Council’s own focus on maintaining financial resilience regardless of the reforms’ outcomes.

Upper Hutt’s Long Term Plan 2024-2034 outlined a clear direction for ensuring essential infrastructure and community services are delivered sustainably and affordably.

Council’s commitment to prudent financial management, coupled with stable economic conditions and strong access to liquidity through the Local Government Funding Agency, has positioned it well to meet future challenges.

This outcome demonstrates independent confidence in Upper Hutt City Council’s financial strategy and its ability to continue delivering value to the community through careful stewardship and a focus on core priorities.

The S&P report can be found here: https://www.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3468703

Source: Upper Hutt City Council

01/11/25