Governor Mara Lezama Espinosa announced that on January 23, S&P Global Ratings upgraded the rating of Quintana Roo to "mxAA-" from a "mxA+" level, the highest rating the state has received in its history. The rating agency highlighted that the entity has achieved a strong structural improvement in its budgetary performance over the last two years, granting it a stable outlook.
Among the factors that led S&P to upgrade the rating are a strong and dynamic economy, driven by a solid fiscal package in 2023 and the complete refinancing of long-term debt in 2024. Additionally, the decision not to resort to short-term debt financing and the high level of local revenues, which already represent 30% of total revenues, was noted.
Furthermore, fiscal transparency and austerity in resource management were emphasized, such as the use of trusts to reduce discretion and the implementation of measures to contain operating expenses. Governor Lezama emphasized that this achievement is the result of the trust of Quintana Roo residents in a new way of governing, based on honesty, transparency, fighting corruption, and the proper use of public funds for the benefit of the population.
