International rating agency Moody’s praises the corporate governance and administration implemented by the Yucatán state government.
Mérida, Yucatán, October 13, 2019.- The Government of the State of Yucatán was evaluated with outstanding grades by the international agency Moody’s, which confirms the relevance of the financial discipline policies implemented by Governor Mauricio Vila Dosal .
This allows the State to demonstrate the soundness of its finances, originated by austerity programs driven by the present administration.
According to Moody’s ratings, Yucatan obtained the best numbers in long-term financing for a Mexican state. The Secretary of Administration and Finance (SAF), Olga Rosas Moya, said this was possible due to the administrative discipline, promoted by Governor Mauricio Vila Dosal and transparency in the bidding process.
On October 13th, Moody’s rating agency assigned a base credit risk assessment (BCA) of ba1 and issuer ratings of Ba1 / A1.mx (global scale, local currency / national scale of Mexico).
The document in which the resolution was announced, states that Yucatan presents an “adequate liquidity position compared to other Mexican states”, thanks to the measures taken by the current state administration.
“Despite the federal cuts, the state economy remains strong, as more has been done with less, attracting investments and generating more and better jobs for the Yucatecans. Efficiency in resource management and austerity in government spending have been key,” experts say.
The treasurer of the Government of Yucatan, Roberto Suárez Coldwell, explained that Moody’s observed “moderate levels of both debt and debt service, a solid collection of own income, a high growth of the State Gross Domestic Product (GDP), moderate requirements of financing and an adequate liquidity position ”.
Finally, Suárez Coldwell pointed out: “Moody’s certifies that the corporate government and the administration of Yucatan are much stronger than other Mexican states.”
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