S&P rates Guanajuato as mxAAA

The rating agency reaffirms the highest national rating for Guanajuato and recognizes an individual profile superior to the sovereign

These ratings are the result of prudent, responsible, and disciplined financial management

Guanajuato/Gto News

The State of Guanajuato reaffirms its position as one of the federal states with the greatest solvency, discipline and financial responsibility in Mexico, as revealed by the updated evaluations issued by S&P Global Ratings on July 15 (on a global scale) and August 3, 2026 (on a national scale).

Despite global and national macroeconomic and trade challenges, the agency awarded the State of Guanajuato a “mxAAA” rating on the national scale, the highest possible level, and highlighted an individual credit profile of “bbb+,” placing it one notch above Mexico’s sovereign rating of “BBB,” which is the same rating the State holds on the global scale.

This recognition is based on the following key pillars:

Responsible financial management:

• Mexico has one of the strongest and best-rated financial administrations among local governments, highlighting a long history of disciplined fiscal policies, prudent management of reserves, and moderate use of financing

Strong liquidity position:

• The orderly management of liquidity strengthens the stability of the State, ensuring a necessary margin of maneuverability to absorb economic fluctuations and meet infrastructure commitments

Sound finances and moderate indebtedness:

• The State maintains a low direct debt burden with very favorable financial obligation service indicators, fully complying with the Financial Discipline Law and guaranteeing broad access to bank credit

Pension sustainability:

• It has a robust and self-sufficient pension system projected until 2065, having one of the highest actuarial sufficiencies in Mexico

Collection efficiency:

• Digitization and optimization efforts through SATEG have strengthened the State’s own revenues

Economic strength and dynamism:

• It is consolidating itself as the fifth largest state economy in Mexico, standing out for the resilience of its manufacturing and export base, as well as for strategic infrastructure initiatives to boost its long-term regional competitiveness

With these results, the State Government, through the Secretary of Finance, reaffirms that fiscal prudence and a long-term vision are the ideal path to guarantee the well-being of Guanajuatense families, consolidating Guanajuato as an engine of national development and an absolute benchmark of transparency and financial soundness.

Source: https://mexico.ratings.spglobal.com/ratings/es/regulatory/article/-/view/type/PDF/id/8028

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