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Moody's rates Mato Grosso Baa3
Moody's America Latina said it assigned Baa3 global scale and Aa1.br Brazil national scale issuer ratings to the State of Mato Grosso (Brazil).
The outlook is stable.
Moody's said the ratings reflect a strong track record of positive gross operating balances, which have allowed the state to finance its capital requirements internally and with minimal new borrowing.
"Between 2006 and 2011, gross operating balances have averaged 11% of operating revenues and when capital accounts are incorporated, cash financing surpluses accounted for 3% of total revenues," Moody's analyst Patricio Esnaola said in a news release.
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