Guildford Borough Council becomes first district county to receive AAA credit rating

Guildford Borough Council has been given the much-treasured AAA credit rating from Moody's Investors Service – the first district council in the county to receive such a rating.

This rating represents high standards of financial management and budget level as well as well as an exceptionally low credit risk – something that many large countries such as the USA haven't been able to match in recent months.

The assessment from Moody's praised its "sound financial performance" and the fact that "it has maintained strong governance and management as well as a good liquidity position relative to its operating responsibilities.

"The council has recently outsourced management of two major facilities (G Live and Spectrum), which will provide it with multi-year revenue stability, limiting operating risks and improving visibility of maintenance and possibly some large renovation or refurbishment expenses" 

"This excellent credit score shows that we are rated amongst the best in the world - and a lower risk than many large countries!" said Cllr David Wright, Lead Councillor for Finance.

"Council Tax payers will benefit from our ability to get the best deal we can, if we need to raise additional money to invest in improving the borough and their communities."