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Last updateFri, 15 Jan 2021 2pm

Fitch upgrades Jalisco’s debt rating

Moody’s, Fitch Ratings and HR Rating have raised Jalisco’s credit rating from BBB to A, an indication that the state government has overcome the financial difficulties that led to a default on a 1.4-billion peso debt in December 2012. 

High credit quality A ratings denote expectations of low credit risk.  The capacity for payment of financial commitments is considered strong.

The credit ratings agencies say the administration of Jalisco Governor Aristoteles Sandoval has managed to repair state fiancees following the default on a loan taken out to help pay for the 2011 Pan American Games.

Austerity measures along with healthy administrative practices have put the state in optimum position to seek further credit at minimum risk, representatives of the agencies said.

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