Triple-A credit rating for district council

15 Jun 00
The ratings agency Standard & Poor's has issued its first rating for a local authority in Britain. Huntingdonshire District Council has been awarded a triple-A long-term issuer credit rating.

16 June 2000

`We are very pleased to be leading the field in local government,' said Huntingdonshire chief executive David Monks. `The rating reflects the good management practice that we employ.'

In March the authority transferred its housing stock of 6,560 homes to Huntingdonshire Housing Partnership. `The council's financial position has changed significantly following this transfer,' said Standard & Poor's Jon Manley.

`The authority has paid off all outstanding debt from its reserves and also, through the sales proceeds, established a significant level of reserves for future years.'


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