S&P lifts Queretaro view to positive

Standard & Poor’s said it affirmed the BBB- global scale and mxAA+ national scale issuer credit ratings on the city of Queretaro.

The agency also said it revised the city’s outlook to positive from stable.

The outlook revision reflects the city of Queretaro’s very strong budgetary performance thanks to the city’s adequate own-source revenue growth and expenditure controls, S&P said.

These factors will maintain the city’s sound financial indicators even amid the political transition following the June 2015 elections and a possible decline in federal transfers in the next two years, the agency said.

The city’s average financial flexibility, adequate liquidity and low debt burden and contingent liabilities are positive rating factors, S&P said.

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