WARRINGTON Borough Council has maintained its BBB+ credit rating, with a stable outlook, following an expert review.
Renowned finance and credit rating organisation S&P Global, has carried out a detailed mid-year review of the council’s finances, governance and strategic planning.
You can read the full report on the council website www.warrington.gov.uk
The review found that the council has maintained its credit rating and stable outlook, due to a number of positive actions, such as the steps the council is taking to reduce its levels of borrowing.
The stable outlook reflects a view that, despite the ongoing financial pressures facing all councils, Warrington’s efforts to contain costs should mitigate some of these pressures, primarily relating to increasing demand for care services in the borough.
Cabinet member for finance, assets and investments, Cllr Denis Matthews (pictured), said: “I’m pleased we’ve maintained our BBB+ credit rating with a stable outlook following this review. The rating reflects our dedicated work to ensuring the council remains as stable as possible despite the challenges all councils continue to face.
“While our stable outlook is good news, we’ll be continuing to rigorously identify and implement ways to further improve our financial performance, reduce our level of borrowing and, crucially, protect the essential services that our residents rely on.”
S&P announced Warrington’s credit rating via the Canadian Stock Market last Friday.
