Mérida Achieves Highest National Credit Rating, Signaling Financial Strength

Mérida, Mexico, has earned its highest national credit rating of HR AAA from HR Ratings, a significant achievement marking the first time in the municipality's history it has received such a distinction. Mayor Cecilia Patrón Laviada announced the rating, emphasizing that it reflects the city's disciplined approach to managing public resources, its commitment to austerity, and effective teamwork.

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It is an honor for us, because it speaks to the work that has been done with financial discipline, internal savings, and teamwork. Few cities in the country have this rating, which is why we are very proud that Mérida provides this certainty of being a well-administered and well-governed city.

The rating signifies Mérida's strong capacity to meet its financial obligations on time. Patrón Laviada attributed this success to a consistent policy of financial discipline, efficient budget administration, and sound planning, all accomplished without increasing taxes for residents. She expressed pride in the recognition, stating it confirms Mérida as a well-managed and well-governed city, a status few other Mexican municipalities hold.

Key strategies contributing to Mérida's strengthened finances include maintaining the property tax unchanged for the past two years, reducing public debt, improving tax collection by regularizing delinquent taxpayers, and exercising strict control over expenditures. Treasury and Finance Director Marisol Cen Caamal explained that the HR AAA rating is the highest on HR Ratings' scale, indicating the municipality's maximum capacity for timely fulfillment of financial commitments.

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This rating not only confirms that the city council maintains healthy and orderly finances, but it reflects a responsible administration of the resources contributed by citizens, prioritizing the efficiency of public spending and avoiding the creation of new burdens for Mérida families.

This evaluation provides assurance of responsible public resource management. It also means that should Mérida require financing for strategic projects, it can access credit under more favorable conditions, with lower costs and enhanced protection for its finances. The city government affirmed its commitment to continuing operations based on order, transparency, efficiency, and financial responsibility to bolster public finances and ensure better services and projects for its population.

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This evaluation provides certainty about the responsible management of public resources and, should financing be required for strategic works, would allow access to better credit conditions, with lower costs and greater protection for municipal finances.