New Mexico’s bond ratings may see an improvement in 2025, according to a recent report by the Albuquerque Journal. The state’s bond ratings have been a concern for many years, with agencies such as Moody’s and S&P citing challenges like low economic growth and high unemployment rates as reasons for their low ratings.
However, the report suggests that New Mexico’s economy is on the upswing, with job growth and diversification in industries such as health care, tech, and renewable energy. This positive economic outlook could lead to an upgrade in the state’s bond ratings in the coming years.
The state’s fiscal situation has also been improving, with increased revenues from oil and gas production helping to boost the economy. The report notes that New Mexico’s budget has been in better shape in recent years, with strong reserves and a balanced budget contributing to a more stable financial outlook.
Gov. Michelle Lujan Grisham has been praised for her efforts to improve the state’s economy and address long-standing challenges. Her administration has focused on diversifying the economy, investing in education and infrastructure, and attracting new businesses to the state. These efforts are seen as key factors in the potential improvement of New Mexico’s bond ratings.
While there are still challenges ahead, such as the ongoing COVID-19 pandemic and the need for continued economic growth, the report suggests that New Mexico is heading in the right direction. With a positive economic outlook and strong leadership, the state may see an upgrade in its bond ratings in 2025. Investors and stakeholders will be watching closely to see how New Mexico’s economy continues to evolve in the coming years.
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