Standard
& Poor’s has elevated Navarra’s credit rating from “AA plus” to “AA”, citing
budgetary stability, low debt, and fiscal autonomy as key pillars of
confidence.
& Poor’s has elevated Navarra’s credit rating from “AA plus” to “AA”, citing
budgetary stability, low debt, and fiscal autonomy as key pillars of
confidence.
Credit agency Standard & Poor’s
has revised its assessment of Navarra’s economic solvency, upgrading its rating
from “AA plus” to “AA,” putting it just two notches below the highest possible
grade for regions.
has revised its assessment of Navarra’s economic solvency, upgrading its rating
from “AA plus” to “AA,” putting it just two notches below the highest possible
grade for regions.
This upgrade follows Spain’s own credit
improvement to “A+,” enabling Navarra to maintain a maximal allowed gap
compared to the sovereign rating.
improvement to “A+,” enabling Navarra to maintain a maximal allowed gap
compared to the sovereign rating.
Key factors highlighted by S&P include:
- Navarra’s robust budgetary discipline, with revenues
outperforming forecasts and controlled spending.
- Low public debt levels, mostly on fixed rates, reducing
exposure to rising interest rates.
- Strong fiscal autonomy under the Economic Agreement,
allowing the region more control over its finances.
- A 2024 current account surplus equal to 11.7?% of
operating revenues, reflecting financial robustness.
- Execution of EU MRR funds and a €125 million investment plan
for 2025–2027, reinforcing regional investment.
José Luis Arasti, Navarra’s Economy
Minister, described the upgrade as a “recognition of the Government’s work” and
a strong message of financial trust.
Minister, described the upgrade as a “recognition of the Government’s work” and
a strong message of financial trust.
This rating boost enhances market
confidence in Navarra, lowers borrowing costs, and positions the region as a
more competitive and reliable destination for national and international
investors drawn to stability and growth.
confidence in Navarra, lowers borrowing costs, and positions the region as a
more competitive and reliable destination for national and international
investors drawn to stability and growth.
