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Regional Minister of Economy, Finance and European Funds, Carolina España. Europa Press
Andalucía achieves best financial solvency rating since 2012

Andalucía achieves best financial solvency rating since 2012

Credit rating agency Standard & Poor's acknowledged the Junta regional government's sound debt management

José Luis Piedra

Seville

Monday, 24 April 2023, 13:50

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The Junta del Andalucía has achieved its best international financial solvency rating since 2012. American credit rating agency Standard & Poor's (S&P) raised the region’s rating from 'BBB+' to 'A-' with a stable outlook, placing the region at a high level of financial solvency.

The rating upgrade moved Andalucía up among the regions with a strong capacity to meet its financial obligations, ahead of other regions such as Aragon, Extremadura, the Balearic Islands and Valencia.

It also placed Andalucía just one step away from the Spanish Treasury's risk rating ('A'), the pinnacle of financial confidence.

S&P, one of the most important and prestigious rating agencies in the world, acknowledged the Junta’s strong economic and financial policy and its prudent debt management.

The agency also recognised the commitment of Juanma Moreno's government to stabilise its budget and its fiscal consolidation policy.

It found that the Andalucían government’s average period of payment to suppliers over the past four years had significantly improved, contributing to its new credit rating. This period of payment to suppliers had been slashed to just 16 days, below the national average.

S&P highlighted this improvement had helped the region to enjoy a comfortable liquidity position and considered that the Junta de Andalucía's cash liquidity was at a comfortable position.

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