S&P Global Ratings analysts held a live interactive webinar on Thursday, March 20, 2025, discussing recent negative rating actions on New Zealand local councils amid the sector’s weaker institutional framework.

Key discussion points included:

• Why has S&P Global Ratings lowered New Zealand's local council institutional framework settings?
• How do the sector's deficits and debt levels compare to international peers?
• How have Crown policies, such as water reforms, played a role?
• Why has S&P Global Ratings lowered its ratings on most, but not all, councils?
• What are the implications for ratings on the New Zealand sovereign and Local Government Funding Agency?

Speakers:
Anthony Walker, Director, Sovereign and International Public Finance Ratings
Rebecca Hrvatin, Associate Director, Sovereign and International Public Finance Ratings
Deriek Pijls, Senior Analyst, Sovereign and International Public Finance Ratings

Moderator:
Martin Foo, Director, Sovereign and International Public Finance Ratings

This webinar replay is free of charge.