Debt Structure and Ratings
Data on the degree of indebtedness of the Region of Madrid and its evolution.
Here you can consult the ratings assigned by the agencies with the greatest international prestige as well as information on the structure and evolution of the debt, repayment schedule, evolution of the average life, historical composition of the debt and debt indicators.
Rating
The Community of Madrid has a credit rating granted by the four rating agencies with the greatest international prestige.
S&P: A with stable outlook (26/07/2024)
Moody's: Baa1 with positive outlook (04/04/2025)
DBRS: A (high) with stable outlook (06/06/2025)
Fitch Ratings: A- with positive outlook (25/04/2025)
Scope: A with a stable outlook (07/03/2025)
Debt Structure at year-end 2024
The 2024 financial year closes with a debt portfolio structure for the Community of Madrid similar to that of previous years, with debt in securities, at a fixed rate and in euros predominating. Although the market context with somewhat more relaxed yield curves has led to greater investor appetite, financing has pivoted on the banking channel. This has led to an increase in the weight of loans of 3,5 percentage points (pp). Thanks to favourable financing conditions, the average cost of the portfolio remains stable at 2,27%. The strategy of lengthening the average life of previous years has made it possible to limit the impact of the rise in the yield curve on the average cost of the portfolio, maintaining an average life of more than 8 years.
Distribution of the debt issued 2025
The Community of Madrid has successfully placed most of its financing needs for the 2025 financial year in the first three months of the year, with great diversity by investor type and country of origin.
Evolution of the Debt
This section shows the evolution of the debt at the close of the fiscal year of the General Administration, and the evolution of the debt in quarterly terms, SEC 2010 data, published by the Bank of Spain.
| dic-22 | dic-23 | dic-24 | Mar 25 | |
| Region of Madrid | 34.824 | 35.880 | 37.260 | 39.651 |
| Vision | 29.876 | 30.979 | 32.411 | 34.981 |
| Credits | 9.736 | 9.859 | 11.674 | 13.243 |
| Values | 20.139 | 21.120 | 20.737 | 21.737 |
| Short term | 208 | 228 | 122 | 112 |
| Credits | 208 | 167 | 57 | 12 |
| Values | 0 | 61 | 65 | 100 |
| Fund CCAA Funding | 0 | 0 | 0 | 0 |
| Public Private Partnerships | 1.483 | 1.436 | 1.385 | 1.385 |
| Rest of the world | 3.257 | 3.236 | 3.341 | 3.173 |
Source: Bank of Spain
Millions of Euros
| Jun-24 | sep-24 | dic-24 | Mar 25 | |
| Region of Madrid | 38.405 | 36.915 | 37.260 | 39.651 |
| Vision | 32.911 | 32.289 | 32.411 | 34.981 |
| Credits | 11.623 | 11.552 | 11.674 | 13.243 |
| Values | 21.287 | 20.737 | 20.737 | 21.737 |
| Short term | 863 | 159 | 122 | 112 |
| Credits | 747 | 48 | 57 | 12 |
| Values | 116 | 111 | 65 | 100 |
| Fund CCAA Funding | 0 | 0 | 0 | 0 |
| Public Private Partnerships | 1.436 | 1.436 | 1.385 | 1.385 |
| Rest of the world | 3.195 | 3.031 | 3.341 | 3.173 |
|
Source: Bank of Spain Millions of Euros |
Indebtedness Indicators
The Debt/GDP ratio of the Public Administration Sector of the Community of Madrid stood at 12,6% in the first quarter of 2025.