An independent credit rating agency has again assessed Ashburton District Council as being in a very strong financial position.

Fitch Rating Services has given Council an AA+ rating for the third year in a row. This rating indicates Council is in a very strong position to meet its debt commitments in the future.

Council Business Support Group Manager Paul Brake said the rating will ensure Council can continue to secure lower interest rates when borrowing from lenders, which will help reduce the financial burden on ratepayers.

"This is a really positive affirmation of Council's fiscal position and the efforts of current and previous elected Councils to operate responsibly and efficiently for our community."

Council collected about $38 million in rates in the last financial year and spends that, and other income, on providing essential facilities and services for the district.

The full Council assessment is on fitchratings.com.