Our ‘AA’ credit rating reaffirmed

Published on 23 July 2025

International credit rating organisation Standard & Poor's has reaffirmed our strong financial position with ‘AA’ credit ratings. 

The agency said the ratings reflect our exceptional financial management and our ability to maintain stability in a changing economic environment. 

Chief Executive Simon Weston says he is very pleased to retain the AA rating. 

"This places us among the highest rated organisations across New Zealand, with a higher credit rating than the major retail trading banks. It reflects our solid financial footing and careful management." 

Standard & Poor's noted that, while higher capital spending over the next few years may lead to an increase in debt, Whangārei's debt levels remain lower than most councils in New Zealand. 

We increased general rates by 9.7% for 2025-2026 and will seek to deliver operational efficiencies to meet rising expenses. 

"Council remains committed to sound financial stewardship and delivering value to its community. 

"We’re focused on making smart, sustainable decisions that support our people and our place," Weston said.