Auckland Council taken off credit watch | The National Business Review.

That is some relatively good news – especially as The Auckland Plan and first Long Term Plan are being deliberated and finalised over the next few respective months.

Have to wonder the change of tune of Standard and Poors though. While I do not mind a stable credit rating of AA I am wondering about the rational – this is especially when forecast repayments on interest of around $8.9b debt is around $520m per annum or 25% of one’s rates bill (the debt was forecasted at that level in 2021).

So good on Auckland Council for keeping the Credit Rating at AA – Stable, Bad Auckland Council if debt does leap to $8.9b or in simple terms; one City Rail Link, one Eastern Highway and some change of around $2b – $3b for a new port, or half a new second harbour crossing.