According to Fitch Ratings, Yucatán has stable finances that attract more investments

Mérida, Yucatán, (July 08, 2021).- Yucatán was ratified by the rating agency Fitch Ratings as A + (MEX) with a stable outlook on its finances, a positive rating that generates certainty for the investments that create jobs for the Yucatecans.

As a result of the efficient financial policies applied by the State Government, Yucatán obtained the “A + (MEX)” rating, a Stable Outlook granted by the international rating agency Fitch, which supports the government’s ability to pay loans, as well as its positioning regarding the liquidity of resources to pay them in the established periods, and this rating was maintained despite the economic environment derived from the Coronavirus pandemic and with this, the healthy finances of the entity are recognized.

This evaluation is added to the one issued last June by the rating agency Moody’s, in which the relevance of the financial discipline executed in 2020 was reaffirmed, for which the state government obtained the Ba1 (A +) credit rating, which highlights the proper and efficient management of state finances implemented and promoted by the current administration, which allowed addressing and executing actions to address the aforementioned difficulties and which the entity went through.

In addition to the pressures derived from spending by the pandemic, it caused a lower collection before which operating expenses were contained, and in this sense, Fitch recognizes the impact on finances as well as the resources allocated to extraordinary expenses to attend the health contingency, highlighting what was destined for the “State Plan to Boost the Economy, Jobs, and Health of the Yucatecans” for which the rating agency projects a recovery of the operating margin in the coming years.

In 2019 the state registered a budget balance with a surplus for the first time in recent years. The state’s ability to generate its own income and efficient spending have enabled Yucatan to maintain healthy finances.