According to the government of Mexico City, Fitch highlighted that its operating income mostly presents strength in its behavior, particularly, the collection of property tax, payroll tax, vehicle rights and federal participations.
The above allows CDMX to have a solid income structure.
“The collection of own revenue has been favorable, registering sustained annual increases after the Covid-19 pandemic. The agency expects that own revenue will maintain an adequate performance in line with the growth estimates of local and national economic activity,” highlights .
The ratification of the qualification is due to the fact that the Federal Government assumes itself as the direct borrower of all financing contracted by CDMX.
Furthermore, the rating agency, in its evaluation of key risk factors, identifies CDMX as having a Medium Range risk profile, being the only Federal Entity evaluated with that profile, due to its greater financial autonomy.
Fitch mentioned that CDMX is the most important economic and financial center in the country, with high economic diversification, a relevant link with the external sector and with the highest level of per capita income in the country.
