The Dunedin City Council has maintained its strong financial ratings by Standard and Poor's.

The firm has just announced the council's long term rating remains "AA".

That means the council has a very strong capacity to meet its financial commitments.

The council's short term issuer credit rating is A 1+.

That's the highest rating the council can achieve.

Staff are pleased with the result, and say it reflects the council's ongoing work to limit spending and reduce debt.

Standard and Poor's says there is strong local management of finances and budget performance.