The Cook islands financial rating has been upgraded by Standard and Poors from B minus to B plus.
The country's Deputy Prime Minister and Finance Minister, Dr Terepai Maoate, says the improvement has a lot to do with the stance taken by the government in its recent budget .
He says the Cooks has worked hard over recent years to restore fiscal credibility.
Dr Maoate says further improvements in the Cooks' credit rating will depend on the government's ability to persist with fiscal responsibility and reduce its debt burden, step up economic and public sector reforms and ensure that private sector led economic growth is sustained.
