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

Fitch Rating Services has given the Council an AA+ rating for the fifth year in a row.

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

Chief Executive Hamish Riach 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," he said.

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