AYUNTAMIENTO DE BARCELONA
Type of ratings: Sub-Sovereign
Rating value: A-
Outlook: Stable
License: EthiFinance Ratings
Unsolicited
We maintain our credit rating on the city of Barcelona at A- with a Stable trend. The city of Barcelona is one of the leading economies at the national level, which has recorded GDP growth of 6.6% in 2022. It has a population of 1.6 million inhabitants and a GDP per capita of 46,000 euros at the end of 2021. Despite the impact of the crisis, with a fall in GDP of -11.6% in 2020 and an increase in the unemployment rate (to 12.4%), the economy of Barcelona has maintained high economic growth rates of 5.5% and 6.6% in 2021 and 2022, respectively. Likewise, the unemployment rate at the end of 2022 was 7.6%, much lower than the national rate. It also has a favorable liquidity profile and public finances at adequate levels. However, our rating is limited by the challenges related to the duality of the labor market and population aging.
Ratings
Rating action: Affirmed
Action date: 2023-10-20
Date last rating: 2023-10-20
Date first rating: 2019-06-21
Methodology