Credit Rating upgrade for Council

Lockyer Valley Regional Council received a credit rating of Neutral in the 2019 Credit Review.

The Queensland Treasury Corporation (QTC) completed the Credit Review process based on information provided by Council up to 31 August 2020.

Lockyer Valley Regional Council Finance Portfolio Councillor Chris Wilson said Council's rating has been upgraded from Weak to Moderate with a Neutral outlook.

This rating is reflective of previous and forecast operating surpluses and adequate debt servicing.

As an organisation, our high council-controlled revenue indicates the ability to respond to adverse events, such as the COVID-19 pandemic, while total borrowings have also decreased significantly, Cr Wilson said.

Lockyer Valley Regional Council Mayor, Cr Tanya Milligan said Council continues to work tirelessly to turn the organisation's finances around.

We continue to work hard to deliver on a back-to-basics approach to spending and we are focused on delivering responsible and sustainable Budgets that have the best interests of the entire Lockyer

Valley at heart.

As an organisation, we are living within our means while still being able to plan for the future and we will continue to make decisions that are in the best interest of the community, Mayor Milligan said.

For further information, contact Council on 1300 005 872.