We expect Tasman District Council's strong after-capital account surpluses will likely continue over the next few years, allowing the council to reduce its debt over the medium term and supporting its credit quality. As a result, we are revising the rating outlook on the council to positive from stable. At the same time, we are affirming our 'AA-' long and 'A-1+' short-term issuer credit ratings on Tasman. The council has very strong budgetary performance, strong financial management, budgetary flexibility and liquidity, low contingent liabilities, and benefits from New Zealand's extremely predictable and supportive institutional framework. Moderating these strengths are the council's high, but declining, debt burden and its average economy. On Oct. 28, 2016, S&P Global Ratings revised the outlook
