Warrington Borough Council Loses Credit Rating Due to £1.85 Billion Debt

Moody's withdraws rating after council fails to provide audited accounts, raising concerns over financial management and investment strategies.

Moody's cited the council's inability to secure auditors for five years of accounts as the reason for the withdrawal.
Warrington's debt, one of the highest relative to council size in England, has drawn government scrutiny.
The council's investments in high-risk ventures, including a failed energy company, have been controversial.
Warrington is seeking a new rating from another agency for its £150 million bonds maturing in 2055.
Officials blame a nationwide auditor shortage for delays, impacting many local authorities.