WARRINGTON Borough Council has retained a high credit rating – for the third year in a row.
The authority has shown its financial resilience with a credit rating of AA2 – the second highest that can be achieved.
The rating, from world-renowned ratings agency Moody’s, follows a thorough review of the council’s books and examination of the risks that may be ahead.
Moody’s report says that the council has a good track record of increasing revenues which has reduced the dependence on declining central government funding. It also points to Warrington’s diversified local economy and high employment rate as well as the council’s track record of budget delivery and strong institutional framework.
Cllr Russ Bowden, deputy leader of the council, said: “We are very pleased to have maintained our rating despite tough and uncertain conditions in the national economy.
“It’s important to have a high credit rating to ensure that we can borrow at reasonable rates to continue to invest in the infrastructure and people of Warrington.
“It also means we can continue with our innovative invest-to-save projects and soften the blow of the continued government cuts.
“We will continue our work to improve the local economy and make Warrington a great place in which to live, invest and do business.”
