One of the world’s largest independent credit rating agencies has assessed Ashburton District Council again as being in a very stable financial position.

Fitch Ratings has affirmed Council with an AA+ rating also saying it leans towards the high end of this rating, and is stronger than most of its domestic peers.

This rating shows that the Council has consistently held a very strong position to meet its future debt commitments.

Group Manager Business Support Helen Barnes says the rating enables Council to receive a discount on interest rates when borrowing from lenders, which helps reduce the financial burden on ratepayers.

"This affirms Council's robust fiscal position and the efforts of current and previous elected Councils to operate responsibly and efficiently for our community," she said.

The report says that Ashburton's revenue base is stable, and is underpinned by steady local economic expansion and a well-defined funding framework.

It also says Ashburton's debt and liquidity is managed within a well-defined framework, anchored by internal risk controls that promote conservative balance sheet management.

The full Council assessment is available on Fitch Ratings website, fitchratings.com.

Read Fitch's press release here.