ONE of the world’s leading credit rating agencies has identified how Warrington Borough Council is as financially resilient as France, South Korea and the United Arab Emirates.

According to the latest report by Moody’s, the economic landscape in the town is ‘low unemployment, a strong institutional framework and a track record of budget delivery’.

For the second year running Warrington has been awarded an ‘Aa2’ credit rating, the second highest possible.

This give the town a better position than all but 16 countries in the world.

The agency praised the council’s budget management with £76.8 million saved over the past five years and also the authority’s proactive economic development strategy.

Councillor Russ Bowden, executive member for corporate finance, said: “This rating from a world-respected body shows how well we have managed our money in tough economic conditions.

"We will continue our work to improve the local economy and make Warrington a great place in which to live, invest and do business.

“As an authority we have had to be innovative and imaginative to grow a strong Warrington and insulate us from the austerity of central government.

"The whole town is working hard to keep us in this strong position.”