How Jundiaí Balanced Its Finances and Raised Its Credit Rating in Full Pandemic

The city in São Paulo's interior had its risk assessment rating improved by Austin Rating as a result of its "strong commitment to tax compliance."

RIO DE JANEIRO, BRAZIL - Worldwide, the novel coronavirus is decimating public accounts, but Jundiaí, a city located halfway between São Paulo and Campinas, is experiencing something different. In full pandemic, the city had its rating raised by the Austin Rating committee to brAA ("double A"), one of the highest. It was formerly rated brAA- (double A minus).

In a meeting last week, the risk agency decided that the city had a high capacity to honor its financial and fiscal commitments, maintaining a low level of indebtedness and with a primary surplus of R$10.8 million in 2019.

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