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The ratings agency said the credit profile of water CCOs was likely to become weaker under the Coalition’s “three waters” reforms.
A new report from international ratings agency Standard & Poor’s has raised questions about the new parliament-controlled water organisation.
International ratings agency Standard & Poor’s warned that the government’s Sanshui reforms could seriously weaken the quality of the loan portfolios of local government financing institutions.
Under reforms announced last week, the Local Government Water Authority will significantly increase lending to new council-controlled water companies.
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