HR Ratings upgrades Atizapán de Zaragoza’s credit rating to “good” / @Pedro_RVillegas @GobAtizapan >>>

#Atizapán, #Edoméx.- The international rating agency HR Ratings raised from HR AA- to HR AA the credit rating of the Municipality of Atizapán de Zaragoza, presided by Mayor Pedro Rodríguez Villegas, and maintained its stable outlook, thanks to the expectation that the relative indebtedness will remain at a low level.

The rating upgrade was due to the municipality’s solid financial management and efficient debt management, according to José Ortega Ríos, Municipal Treasurer.

The rating agency also communicated that the upward revision of the rating is due to the observed and projected reduction in the municipality’s net indebtedness.

“At the end of 2023, the dynamism reported in Own Revenues caused a significant increase in Unrestricted Revenues (ILD). As a result, the Entity recorded a surplus in the Primary Balance (PB) of 3.0% of Total Revenues (TR), which allowed it to strengthen its liquidity position. As a result, the Net Debt (ND) was negative at the end of the year,” HR Ratings mentioned in its report published on September 17.

This is the third consecutive year that the Municipality of Atizapán de Zaragoza increases its rating of what is the improvement of the municipality’s public finances.

In 2022, the municipality had a rating of HR A+ with Stable Outlook; for 2023, the rating rose to HR AA-, due to a reduction in net indebtedness and an increase in Unrestricted Revenues.

“It stands out this year, so that the rating agency now gives us an AA rating with a stable outlook, the adequate management of the public debt, we have not increased in these three years the public debt and therefore we understand that we have not increased or incurred in defaults, that is, everyone has been paid and we have also complied with the issue of banks,” mentioned the Municipal Treasurer Ortega Ríos.

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