WARRINGTON Borough Council has demonstrated its financial resilience for a third year in a row with a credit rating of AA2 – the second highest that can be achieved.

The rating, from ratings agency Moody's, follows a thorough review of the council's books and examination of the risks that may be ahead.

Moody's report said the council has a 'good track record of increasing revenues which has reduced the dependence on declining central Government funding'.

It also points to the town's 'diversified' economy and high employment rate, as well as the authority's 'track record of budget delivery and strong institutional framework'.

Deputy council leader Cllr Russ Bowden said: "We are very pleased to have maintained our rating despite tough and uncertain conditions in the national economy.

"It's important to have a high credit rating to ensure that we can borrow at reasonable rates to continue to invest in the infrastructure and people of Warrington.

"It also means we can continue with our innovative invest to save projects and soften the blow of the continued Government cuts.

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