Bogota attains top local credit rating from Fitch Ratings

Bogota attains top local credit rating from Fitch Ratings Secretaría Distrital de Hacienda
The international credit rating agency has recognized Bogotá's revenue structure.

Únete a nuestro canal de noticias en WhatsApp

Escucha la noticia

Translated by Andrés Martínez

Fitch Ratings has assigned Bogotá, Distrito Capital, a long-term national scale rating of AAA (col) and a short-term rating of F1+ (col), with a stable outlook for the long-term rating.

The highest local rating is a result of Bogotá's robust revenue structure, primarily consisting of own-source revenues, thanks to taxpayers' commitment to the city's development.

Furthermore, debt risk management has proven efficient, with a mere 2% exposure to exchange rate risk and an absence of significant maturity concentrations.

Finally, the agency noted that Bogotá's local assessment results were influenced by its international rating, which, on an individual basis, would correspond to a BBB- level; however, it is constrained by Colombia's sovereign credit rating of BB+.