Three of Tijuana's bank loans were ratified with AAA (mex) vra rating by Fitch Ratings, informed Olga Angélica Alcalá Pescador, treasurer of the city council, who said that the rating was considered with a balance as of March 31, 2021.

This confirms a stable economic outlook, an environment that will continue after the municipal administration headed by Karla Patricia Ruiz Macfarland.

Alcalá Pescador explained that Tijuana's debt is composed of loans with commercial and development banks, three of which were acquired in 2020, through a refinancing process.

And it is covered through an administration and source of payment trust, which will allow maintaining a healthy treasury, with no major liabilities and stable finances, said Pescador.

She also emphasized that the rating obtained is due to the public policies implemented by the Tijuana City Council, by prioritizing austerity and proper management of finances, despite the economic situation generated by COVID-19 in the last 15 months.

"The City Hall will close and deliver healthy finances and no short-term debt for the next administration, due to the fact that the assets used as a source of payment of the credits are equivalent to the General Fund of Participations", she assured.

Likewise, the municipal public servant clarified that Fitch determines it as a stronger asset, due to its solidity, low volatility and certainty. This means that there will be no inconvenience to pay the loans obtained with the three banks in the acquired term.

The municipal treasurer also acknowledged that the expenses generated by the three municipal loans have already been contemplated, which is why there will be no impact to the incoming government, since the natural hedges projected under Fitch's scenarios are favorable and higher than 4x.

Finally, she specified that Tijuana, as it shares a border with the United States, becomes a very important trade route between the two countries, as it is the most populated municipality in Mexico, with 1.9 million inhabitants, according to the 2020 population census.

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