Fitch Ratings has ratified Guanajuato's "AAA(mex)" national rating, the highest a Mexican State can achieve The international rating agency highli
Fitch Ratings has ratified Guanajuato’s “AAA(mex)” national rating, the highest a Mexican State can achieve
The international rating agency highlights the State’s economic dynamism, fiscal efficiency, and balanced budget performance
Guanajuato/Gto News
The renowned international agency Fitch Ratings, in its most recent evaluation, has ratified the highest credit quality of the State of Guanajuato, endorsing the international scale ratings of BBB- and AAA(mex) on the national scale, both with a stable outlook, reflecting trust in the continued financial strength of Guanajuato.
The AAA(mex) rating is particularly significant, as it represents the highest possible level on the national scale. Furthermore, the agency also ratified the State’s robust standalone credit profile (‘a+’), which is a direct result of the efficient administration and financial strength built in recent years, a very positive dynamic in its own revenues, effective expenditure control, and the assured long-term viability of the pension system.
This important achievement is based on several positive factors highlighted by the agency:
- Growing revenue: A favorable trend in local revenues is recognized, with a significant increase in own resources between 2020 and 2024, thanks to economic growth and greater tax collection efficiency. In fact, Guanajuato’s total revenues have a rising trend superior than the national GDP growth
- Solid liquidity: Guanajuato has significantly strengthened its liquidity levels in recent years, maintaining a strong financial position
- Responsible expenditure management: The agency also considers effective expenditure controls and prudent budgeting and execution to ensure a balanced operating structure
- Sustainable pension system: The long-term viability of the pension system eliminates future contingencies for the State
- Prudent debt management: This source of financing has driven recent investments, which, combined with strong budgetary performance and prudent debt policies, demonstrates cutting-edge fiscal management
Therefore, Guanajuato has consolidated its position as the country’s fifth-largest economy, as these ratings provide confidence and certainty to investors who continue to establish new projects that generate jobs. Furthermore, public investment can be boosted by the strength of the State, which can access the best financing conditions in the country.
These results confirm the budgetary discipline, responsible management, and economic strength of Guanajuato, achieved through the Government of the People led by Governor Libia Dennise Garcia Munoz Ledo.
Source: Fitch Ratings México, SA de CV,
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