Mayor Ariel Sujarchuk reported that the Municipality of Escobar has been rated by the local risk consultancy Moody's as BBB.ar, which grants it the "Investment Grade" category. This rating is due to the low level of indebtedness and efficient management of municipal finances.
According to Sujarchuk, this positive classification will allow the district to access better financing and continue driving a virtuous circle of progress. The Municipality will have to undergo quarterly monitoring, during which the consultancy will conduct projections on the overall solvency and credit capacity of Escobar.
Escobar is the only district in the Province that has a credit rating. The consultancy’s report highlights that the municipality has low levels of financial debt compared to its total income, in addition to showing positive operating margins and a high proportion of own revenues that provide fiscal autonomy.
Ariel Sujarchuk indicated that they decided to undergo this rigorous process of external evaluation to confirm transparency and professionalism in the financial management of Escobar. Moody's highlights the sustained fiscal surplus and low level of indebtedness as achievements of the district.
The Municipality of Escobar has already obtained the certification of ISO 37001 regarding transparency in public administration, being the first Argentine government agency to achieve this. This new positive rating opens the possibility to seek financing in the capital market to invest in security, health, education, and other infrastructure works in the district.
