Ashburton District Council has been given a strong bill of financial health by one of the world’s largest independent credit rating agencies.

Fitch Rating Services has given Council an AA+ rating for the fourth 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 Leanne Macdonald said the rating would ensure Council could continue to secure lower interest rates when borrowing, which would help reduce the financial burden on ratepayers.

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

The Fitch report said Ashburton’s stable revenue profile was underpinned by steady economic growth and capital expenditure was well planned.

Mrs Macdonald said Council revenue and cash flow largely covered its debt servicing.

“I’m pleased that Council has continued to be assessed independently as a well-run and financially robust local authority. The Fitch Ratings process takes an intensive look at many different parts of the organisation and should re-assure ratepayers about our financial management.”

The full Council assessment is on fitchratings.com.