Barranquilla received excellent news after the international agency Fitch Ratings improved the city’s credit rating both nationally and internationally, upgrading its outlook from “stable” to “positive.” Mayor Alejandro Char announced the news on his X account, celebrating the achievement as a recognition of the city’s responsible and transparent financial management.
“Thanks to the commitment and trust of Barranquilla’s citizens in paying taxes and our strong ability to meet financial obligations, this renowned agency acknowledges that the city is managing its economy well,” said the mayor. According to Mayor Char, the improved rating directly reflects the credibility the city has built in recent years across its key sectors.
In December 2024, Fitch Ratings awarded the city ‘BB’ for IDRs and ‘AA’ for National Long-Term Rating.
Fitch Revises Barranquilla’s Outlook to Positive
As per Fitch Ratings’ May 16, 2025 press release:
Fitch Ratings has affirmed Distrito Especial Industrial y Portuario de Barranquilla’s (Barranquilla) Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at ‘BB’. The Rating Outlook has been revised to Positive from Stable. Fitch has also affirmed Barranquilla’s National Long-Term and Short-Term ratings at ‘AA(col)’ and ‘F1+(col)’, respectively. The Outlook for the National Long-Term rating was also revised to Positive from Stable. A full list of rating actions is provided at the end of this document.
What Is Fitch Ratings?
Fitch Ratings is one of the world’s most influential agencies. It evaluates the ability and willingness of public and private entities to meet their credit obligations. Its ratings range from E (the lowest) to AAA (the highest), serving as a signal to investors and multilateral organizations about the financial risk of a city or entity.
Within this context, Barranquilla gains greater trust in both the national and international financial systems and positions itself as an attractive destination for new investments. The mayor concluded that this kind of result comes from a joint effort among citizens, the government, and the private sector. He reaffirmed his commitment to continue working toward a stronger and more sustainable city.
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