Moody’s upgrades rating of Guanajuato to AAA

This qualification is the highest degree to which a Mexican State can aspire The agency highlights the sustained improvement in own income, high l

This qualification is the highest degree to which a Mexican State can aspire

The agency highlights the sustained improvement in own income, high liquidity position, moderate debt levels and contingent liabilities for long-term funded pensions

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Guanajuato/Gto News

In the annual evaluation by the agency Moody’s Local Mexico, the State of Guanajuato managed to improve the rating, obtaining ‘AAA.mx ‘ with a stable outlook from ‘AA+.mx’, on a national scale.

This assessment represents the highest grade and is only given to Mexican institutions that have the strongest credit quality compared to other institutions.

In its press release published today, the agency bases its assessment of Guanajuato based on its excellent financial results, highlighting the following:

It has strong management and transparency practices, which are well above the average compared to the other states
Economic growth has been above the national average and has the potential to continue receiving investment in the medium term and maintain solid growth in own revenues
As a resut of its efficient financial administration, it reflects high levels of liquidity
It has a moderate level of debt, which has supported public investment through this source of financing
It has the capacity to generate sufficient income to cover expenses and liabilities, with solid financial management and the ability to access financing sources
In 2022, operating income grew 27.2%, mainly due to the strengthening of its own income
On the other hand, it adopted strategies to maintain moderate growth in operating expenses
Budgetary discipline has been essential to sustain operating and financial margins
Unfunded pension liabilities are very low compared to their national peers

This result supports the responsible,technical and effective management of resources by the Ministry of Finance, Investment and Administration, which promotes the sustainability of public finances in favor of the continuous and inclusive development of Guanajuato.