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.
Source: Moody’s Local Mexico
https:/ /w w w.moodyslocal.com/country/mx/ratings/subsov
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