{"id":6936,"date":"2010-11-18T03:38:00","date_gmt":"2010-11-18T03:38:00","guid":{"rendered":"http:\/\/www.lospoliticosveracruz.com.mx\/?p=6936"},"modified":"2014-10-09T03:42:26","modified_gmt":"2014-10-09T03:42:26","slug":"veracruz-a-la-baja","status":"publish","type":"post","link":"https:\/\/lospoliticosveracruz.com\/?p=6936","title":{"rendered":"Veracruz, a la baja"},"content":{"rendered":"<p><span style=\"font-weight:bold;\">Enrique Yasser Pompeyo<\/span><br \/><span style=\"font-style:italic;\">Mesa de Redacci\u00f3n<\/span><\/p>\n<p>De acuerdo con la calificadora Standard &#038; Poor\u00b4s, el deterioro en el desempe\u00f1o presupuestal del estado de Veracruz y su agresiva pol\u00edtica financiera ha impactado en su posici\u00f3n de liquidez. Por ello, baj\u00f3 la calificaci\u00f3n de riesgo crediticio en escala nacional a \u2018mxBBB-\u2019 de \u2018mxBBB+\u2019 que ten\u00eda.<br \/>En su an\u00e1lisis de prospectiva, estima que el perfil financiero del estado continuar\u00e1 bajo presi\u00f3n durante 2011, principalmente debido a su dificultad para generar recursos internos suficientes para cubrir sus actividades operativas, de inversi\u00f3n y sus pasivos de corto plazo.<br \/>En el apartado Fundamento, se establece que la baja de la calificaci\u00f3n refleja el continuo deterioro de la estructura presupuestal del estado de Veracruz debido principalmente al continuo crecimiento en su gasto operativo, lo que ha impactado de manera negativa en su ya limitada posici\u00f3n de liquidez.<br \/>La acci\u00f3n de calificaci\u00f3n incorpora tambi\u00e9n la agresiva pol\u00edtica financiera del estado hacia el aumento en los pasivos de corto plazo, ante su limitada capacidad para generar recursos internos en los \u00faltimos a\u00f1os para cubrir sus necesidades de gasto de inversi\u00f3n.<br \/>Sobre el desempe\u00f1o presupuestal de la entidad, plantea que ha continuado deterior\u00e1ndose en los \u00faltimos a\u00f1os, por lo que estima que el estado mantendr\u00e1 d\u00e9ficits operativos cercanos a dos mil 700 millones de pesos o 3.5 por ciento de sus ingresos operativos al cierre de 2010.<br \/>En el apartado Deuda P\u00fablica, se explica que al cierre de junio de 2010, el estado de Veracruz report\u00f3 un saldo de deuda por aproximadamente seis mil 700 millones de pesos, que corresponden a la emisi\u00f3n de certificados burs\u00e1tiles respaldados por los ingresos del Impuesto Sobre Tenencia o Uso Vehicular (ISTUV). Actualmente, el estado cuenta con dos montos autorizados por parte del Congreso estatal para contratar deuda adicional, uno por hasta diez mil millones de pesos y el otro por seis mil 800 millones de pesos.<br \/>Al respecto, la calificadora opina que el estado se enfocar\u00eda primero en la contrataci\u00f3n de un cr\u00e9dito por hasta diez mil millones de pesos y dejar\u00eda para despu\u00e9s la contrataci\u00f3n del otro financiamiento, con lo que el nivel de deuda de largo plazo alcanzar\u00eda los 16 mil 700 millones \u00f3 72 por ciento de sus ingresos discrecionales estimados para 2010.<br \/>Asimismo, para el cierre de 2010, estima bajos niveles de servicio de deuda cercanos a dos por ciento de sus ingresos discrecionales estimados para 2010. Sin embargo, hacia 2011 estima que el nivel de endeudamiento podr\u00eda acercarse a 90 por ciento de sus ingresos discrecionales si que se contrata el segundo financiamiento por hasta seis mil 800 millones.<br \/>Para la calificadora, la posici\u00f3n de liquidez de Veracruz es d\u00e9bil. Explica que el estado ha enfrentado dificultades para acceder a financiamiento externo durante el a\u00f1o, lo que ha venido presionando a\u00fan m\u00e1s su capital de trabajo. Por otro lado, ante la incapacidad de generar balances operativos superavitarios, considera que el estado enfrenta una alta exposici\u00f3n a los flujos provenientes de transferencias extraordinarias para ejecuci\u00f3n de gasto de inversi\u00f3n, que hist\u00f3ricamente se han caracterizado por su alta volatilidad.<br \/>Standard &#038; Poor\u00b4s plantea: la perspectiva negativa refleja nuestra expectativa de que el perfil financiero de Veracruz continuar\u00e1 bajo presi\u00f3n durante 2011 como resultado del acotado margen de maniobra de la administraci\u00f3n para ajustar su estructura de gasto, adem\u00e1s de las crecientes presiones asociadas al pago de sus obligaciones financieras en los pr\u00f3ximos a\u00f1os.<br \/>As\u00ed, advierte y recomienda: \u201cen caso de que el estado no logre cerrar el financiamiento propuesto de largo plazo y no revierta la tendencia negativa de su desempe\u00f1o operativo, durante 2011, la calificaci\u00f3n podr\u00eda bajar nuevamente. Por otro lado, una prudente administraci\u00f3n financiera que implemente controles de gasto operativo eficaces y que logre revertir gradualmente los d\u00e9ficits operativos, aunado a la contrataci\u00f3n del financiamiento bancario propuesto que le permita mitigar el actual riesgo de liquidez, podr\u00edan regresar la perspectiva a estable\u201d.<\/p>\n<p>enriquepompeyo@hotmail.com<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Enrique Yasser PompeyoMesa de Redacci\u00f3n De acuerdo con la calificadora Standard &#038; Poor\u00b4s, el deterioro en el desempe\u00f1o presupuestal del estado de Veracruz y su agresiva pol\u00edtica financiera ha impactado en su posici\u00f3n de liquidez. Por ello, baj\u00f3 la calificaci\u00f3n de riesgo crediticio en escala nacional a \u2018mxBBB-\u2019 de \u2018mxBBB+\u2019 que ten\u00eda.En su an\u00e1lisis de [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-6936","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-sin-categoria"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Veracruz, a la baja - Los pol\u00edticos Veracruz<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lospoliticosveracruz.com\/?p=6936\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Veracruz, a la baja - Los pol\u00edticos Veracruz\" \/>\n<meta property=\"og:description\" content=\"Enrique Yasser PompeyoMesa de Redacci\u00f3n De acuerdo con la calificadora Standard &#038; Poor\u00b4s, el deterioro en el desempe\u00f1o presupuestal del estado de Veracruz y su agresiva pol\u00edtica financiera ha impactado en su posici\u00f3n de liquidez. Por ello, baj\u00f3 la calificaci\u00f3n de riesgo crediticio en escala nacional a \u2018mxBBB-\u2019 de \u2018mxBBB+\u2019 que ten\u00eda.En su an\u00e1lisis de [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/lospoliticosveracruz.com\/?p=6936\" \/>\n<meta property=\"og:site_name\" content=\"Los pol\u00edticos Veracruz\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/people\/Notimemes-de-los-Polticos\/61565672886568\/\" \/>\n<meta property=\"article:published_time\" content=\"2010-11-18T03:38:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2014-10-09T03:42:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/lospoliticosveracruz.com\/wp-content\/uploads\/2016\/07\/Logo-Dor.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"200\" \/>\n\t<meta property=\"og:image:height\" content=\"200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lospoladmin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@LosPoliticosVer\" \/>\n<meta name=\"twitter:site\" content=\"@LosPoliticosVer\" \/>\n<meta name=\"twitter:label1\" content=\"Escrito por\" \/>\n\t<meta name=\"twitter:data1\" content=\"lospoladmin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Tiempo de lectura\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutos\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/lospoliticosveracruz.com\\\/?p=6936#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/lospoliticosveracruz.com\\\/?p=6936\"},\"author\":{\"name\":\"lospoladmin\",\"@id\":\"https:\\\/\\\/lospoliticosveracruz.com\\\/#\\\/schema\\\/person\\\/c5fee8df75ee4700bd7f8e92859bd696\"},\"headline\":\"Veracruz, a la baja\",\"datePublished\":\"2010-11-18T03:38:00+00:00\",\"dateModified\":\"2014-10-09T03:42:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/lospoliticosveracruz.com\\\/?p=6936\"},\"wordCount\":685,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/lospoliticosveracruz.com\\\/#organization\"},\"inLanguage\":\"es\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/lospoliticosveracruz.com\\\/?p=6936#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/lospoliticosveracruz.com\\\/?p=6936\",\"url\":\"https:\\\/\\\/lospoliticosveracruz.com\\\/?p=6936\",\"name\":\"Veracruz, a la baja - 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