The Wanganui District Council has been given a credit rating in line with the country's three major banks and on the strength of that expects to find it easier attracting investors.
The international financial rating agency Standard & Poors has given the council an AA- credit rating.
Julian Harkness, council's finance and corporate manager, told councillors this week that the rating was part of council's 10-year plan.
The first part was to issue short-term bonds, then join the New Zealand Local Government Funding Agency (LGFA), with achieving a credit rating the final step.
Mr Harkness said the council carried $84 million in external debt which, according to the 10-year plan, would increase in coming years.