Standard & Poor’s credit rating agency has upgraded the credit rating of the Extremadura Council from BBB to BBB+, with a Stable outlook, highlighting the financial management carried out by the current government, as well as the «efforts» aimed at accelerating the implementation and collection of EU funds.
This upgrade is a «true reflection» of the «financial solidarity» of the Extremadura community and facilitates the Extremadura Council’s access to financial markets «on better terms, increasing investor confidence,» the autonomous administration said in a press release.
Therefore, the agency views the management that the Extremadura Council carries out in financial and budgetary matters as «more favorable.»
Among the reasons cited by S&P for raising Extremadura’s rating from BBB to BBB+ with a stable outlook are the financial management that the current government is undertaking, the budgetary improvement in the region, driven by «Higher in the same way to prevent planned expenses,» as well as the «efforts» to accelerate the implementation and collection of EU funds.
S&P’s outlook is «stable,» emphasizing the budget stability and decreasing debt ratios «gradually,» even in the absence of an «extraordinary debt waiver» as proposed by the central government.
