The Secretary of Finance of Bogotá informed that the Technical Rating Committee of Value and Risk Rating S.A., Sociedad Calificadora de Valores, assigned Bogotá Distrito Capital the AAA (Triple A) credit rating, with a stable outlook, for its Long-Term Payment Capacity.
"I am pleased to inform the people of Bogotá that the responsible and efficient management of the city's public finances has been recognized with the highest credit rating, AAA (Triple A), which ratifies Bogotá's payment capacity in terms of its credit obligations and the issuance of domestic public debt bonds. Undoubtedly, this is a recognition of the city's serious and rigorous financing and borrowing policies," explained the Secretary of Finance, Juan Mauricio Ramírez.
The firm also assigned the city a rating of VrR 1+ (One Plus) for its Short-Term Payment Capacity. In the following tweet, the Mayor of Bogota highlights this positive rating.
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Me complace informarle a Bogotá que el manejo transparente y eficiente de las finanzas de la ciudad ha dado como resultado la máxima calificación AAA (Triple A) por @ValueandRisk, lo que ratifica la capacidad de pago del Distrito de sus obligaciones crediticias y emisión de bonos pic.twitter.com/7PofI0EGuJ
— Claudia López Hernández (@ClaudiaLopez) February 13, 2023
"This is the best and highest investment grade rating, which will not be significantly affected by possible changes in the entity or in the economy. On the other hand, the rating VrR 1+ (One Plus) indicates that the local authority has the highest capacity for the payment of its obligations, in the terms and deadlines agreed upon, given its levels of liquidity," as indicated in the technical report by Value and Risk Rating S.A.
Additionally, the firm assigned Bogotá the AAA (Triple A) rating for the Payment Capacity of Domestic Public Debt Bonds and Social Domestic Public Debt Bonds, corresponding to the Program for the Issuance and Placement of Domestic Public Debt Bonds of Bogotá, Distrito Capital, for up to 9.65 trillion pesos.
Regarding the rating awarded by Value and Risk Rating, Juan Mauricio Ramírez, Secretary of Finance of Bogotá, stated that it shows how robust and strong the city's finances are.
