Credit rating agency, Standard & Poor's, has affirmed the Dunedin City Council's credit rating as double A, and has labelled its outlook as 'stable'.

The agency noted that the DCC's credit quality is underpinned by its track record of strong management and fiscal discipline, and benefits from minimum legal limitations in regard to increasing its property taxes.

In reviewing the Council's long-term plan, Standard & Poor's observed that although debt levels are forecast to increase upon the commencement of a number of new projects, they also expect that large shortfalls in capital spending will occur. Hence, the peak debt level may be lower and delayed.