S&P confirms high credit quality of Guanajuato

The ratings agency S&P Global Ratings highlights that the State has an efficient financial administration Likewise, S&P highlights the res

The ratings agency S&P Global Ratings highlights that the State has an efficient financial administration

Likewise, S&P highlights the results of the tax reforms adopted and the increase in own income

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Guanajuato/Gto News

The S&P Global Ratings agency ratified the high credit profile of the State of Guanajuato, with a rating of:

‘mxAA+’ on a national scale

‘BBB ‘ on a global scale

both with a stable outlook, acknowledging the impulse that the Governor of the State, Diego Sinhue Rodriguez Vallejo, through the Secretary of Finance, Investment and Administration, headed by Hector Salgado Banda, has given to the strengthening of public finances and clear accounts in the use of resources.

In its report, the rating agency S&P Global Ratings bases the evaluation of Guanajuato based on its results, highlighting the following:

SP Ratings High Credit Level Guanajuato 3

Guanajuato ‘s management is proactive and has a strong liquidity position, due to its prudent budget management and low debt levels
It has stronger disciplined financial policies compared to other States
Its tax reforms have increased own income above the average of other Mexican States
It maintains low levels of indebtedness and has cash flow to cover its medium and long-term obligations
The administration of the Secretary of Finance reflects transparent processes and institutional strengths
The State pension system has long-term actuarial viability

Given the current environment S&P Global Ratings expects that the prioritization of spending and the strong liquidity position will allow Guanajuato to face any complex economic scenario.

SP Ratings High Credit Level Guanajuato 4

Thus, the three main international rating agencies confirm that Guanajuato has a responsible, technical and efficient administration, which is a pillar to strengthen and guarantee the sustainability of the Public Treasury, in favor of the inclusive and sustainable development of Guanajuatenses.