Zacatecas credit rating upgraded by Fitch and HR Ratings

Rating agencies Fitch Ratings and HR Ratings have upgraded the credit rating of the government of Zacatecas, citing budgetary discipline and strengthened revenue. Fitch Ratings raised the state's national scale rating from 'AA-' to 'AA'. HR Ratings increased the rating from HR A+ to HR AA- and adjusted the outlook from positive to stable.

The agencies highlighted several key factors for the upgrade, including constant revenue growth, the balance between income and public spending, and the absence of new debt. The evaluation noted that the state did not rely on short-term financing for current expenses, maintained a financial surplus, strengthened reserve funds, and implemented austerity measures.

HR Ratings specifically noted a sustained decrease in debt and the ability to fund priority infrastructure projects in road, hydraulic, and security sectors without incurring additional debt. These improvements are expected to enhance investor confidence and provide better conditions for the state's financial development.