# Mexican regional credit rating improvements

> Developing situation record from CLSTR: https://clstr.news/situations/mexican-regional-credit-rating-improvements
> Updated: 2026-11-05T12:04:04.000Z. Sources: 2. Developments: 2.

Financial evaluations for regional entities in Mexico have shown upward trends. In October 2026, Fitch Ratings upgraded the credit rating of the municipality of Atizapán de Zaragoza from ‘AA-(mex)’ to ‘AA(mex)’ with a stable outlook. This improvement was attributed to financial discipline, growing operating balances, and strong liquidity under the administration of Pedro Rodríguez Villegas.

In November 2026, the state of Hidalgo received a credit rating upgrade from AA.mx to AA+.mx with a stable outlook from Moody’s Local México. This represents the highest rating in the state's history, supported by increased local revenue, transparency, and low debt levels under the administration of Governor Julio Menchaca Salazar.

## Timeline

### 2026-11-05: Hidalgo achieves highest historical credit rating from Moody’s Local

Moody’s Local upgraded Hidalgo's credit rating to AA+.mx, the highest in the state's history, citing strong financial discipline and economic growth.

2 sources. https://clstr.news/cluster/hidalgo-achieves-highest-historical-credit-rating-from-moodys-local

### 2026-10-14: Atizapán de Zaragoza receives credit rating upgrade to AA

Fitch Ratings upgraded Atizapán de Zaragoza's credit rating to ‘AA(mex)’, citing strong liquidity, debt service capacity, and a 7.6 percent growth in municipal revenues during 2025.

4 sources. https://clstr.news/cluster/atizapn-de-zaragoza-receives-credit-rating-upgrade-to-aa

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Cite as: Mexican regional credit rating improvements. CLSTR, https://clstr.news/situations/mexican-regional-credit-rating-improvements