The risks surrounding further cost escalations of the Waimea Community Dam are receding as the project nears completion. This is improving our assessment of the Tasman District Council's budgetary performance. The council's solid financial management, strong liquidity, and New Zealand's excellent institutional settings, continue to support our ratings on Tasman. We revised the outlook on Tasman to stable from negative and affirmed our 'AA' long-term and 'A-1+' short-term issuer credit ratings. On Oct. 27, 2022, S&P Global Ratings revised the outlook on its long-term ratings on Tasman District Council, a New Zealand local government, to stable from negative. We also affirmed the 'AA' long-term and 'A-1+' short-term issuer credit ratings. The stable outlook reflects our view that the risks of
