Council maintains high credit rating

Warrington Borough Council Published: Monday, 5th August 2019

The council has retained its A1 credit rating from 2018, despite ongoing budget pressures.

International ratings agency, Moody’s, provided the rating after a comprehensive review of the council’s financial plans, financial performance, economic record and a full analysis of current and future risks.

Moody’s reported that the rating reflects a “strong institutional framework”, the council’s “track record of budget delivery” and a “stable reserves balance”.

The overall outlook of the report was that Warrington Borough Council continued to perform well, with resilience and a stable outlook, despite the ongoing budget pressures.

Council leader, Cllr Russ Bowden said: “The positive report we have received from Moody’s reflects the strong financial position of the council and our robust contingencies, such as our consistent reserves.

“Like all local authorities, we are facing significant financial challenges and will continue to do so in the future. This report is validation of the innovative, commercial approach we continue to take to ensure our financial sustainability.

“With each credit rating audit, we review the information and recommendations fed back to us, and seek to find areas where improvements can be reasonably made in the current climate. We will continue to do all we can to maximise our financial resources so that we can provide the best possible services for the people of Warrington.”