S&P: Queretaro outlook positive

Standard & Poor's said it affirmed the state of Queretaro Arteaga's mxAA- national scale rating and revised its outlook to positive from stable.

The outlook revision can be attributed to Querétaro's strong liquidity position during the past few years, its strong financial performance and a debt refinancing at year-end 2006, S&P said.

The rating on Querétaro is supported by a solid economic base and a professional management team that has sustained good administrative practices, exemplified by updated external audits and actuarial studies and an adequate budgeting process, the agency said.

The rating is constrained by an unfunded pension system and potential financial support to the water entity Comisión Estatal de Agua de Querétaro, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.