The move comes after Standard and Poor’s downgraded the entire local government sector earlier this year as part of a blanket ‘whole-of-sector’ reset.

The confirmation is good news for ratepayers, as a strong credit rating helps keep borrowing costs down. Fitch is the same credit rating agency used by central government.

Mayor Dan Gordon says Waimakariri was disappointed to be caught up in a one-size-fits-all approach that didn’t reflect the Council’s strong financial performance.

“Waimakariri is a standout in the local government sector, with strong financial policies and prudent debt management. Moving to Fitch Ratings ensures our community is recognised for the strong position we are in.

“A strong rating often corresponds to lower interest rates. This matters because councils borrow to fund long-life community infrastructure like roads, water services, and facilities.

“Our internal policies are more conservative than legislation requires. While councils can borrow up to 350% of revenue, Waimakariri has set its own ceiling at 250%—and even with this, we’re currently only at 134%. That includes provision for major events like an earthquake and shows we’re managing debt with real prudence.”

Chief Executive Jeff Millward says the change will ensure Waimakariri residents can have confidence their Council is securing the best possible deal when borrowing. An additional plus is that Council has made savings with the move.

“We’re thrilled Fitch Ratings has recognised our individual performance. This allows us to continue delivering the projects and infrastructure our fast-growing community needs, while ensuring ratepayers get the benefit of the lowest possible interest costs.”