EsSalud registers BBB risk rating promoted by management during the pandemic

The Social Health Insurance (EsSalud) reported that it has a stable BBB risk financial rating, according to the international rating agency Fitch Ratings. In other words, it has a favorable credit profile in terms of meeting long-term financial obligations, which will allow international investors to participate in EsSalud projects.

With this qualification, EsSalud presents a positive reputation to assume and fulfill its long-term obligations in local and foreign currency. In addition, it makes visible that EsSalud has been carrying out financial management in accordance with the standards accepted in the national and international market. Among the projects that are currently being carried out with international investment are the construction, equipping and operation of the Piura and Chimbote hospitals, currently in the process of international public announcement by ProInversión.

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“This qualification is relevant because it implies that the institution has investment grade; this is the financial capacity to assume and fulfill long-term obligations, improving the image of EsSalud in the national and international financial market for possible long-term financing operations, ”said Social Security.

One aspect Fitch Ratings considered was the impact of the COVID-19 pandemic that had in the financial management of EsSalud this year and the transfers of resources during 2020 and 2021 by the ministries of Economy and Labor to face the health emergency.

For this rating, Fitch Ratings analyzed the financial management of EsSalud, the cost of personnel and growth of the workforce, the main investments made this year, collection and collections through Sunat, the evolution of the EsSalud technical reserve in the last two years and progress of public association projects private: Torre Trecca and highly complex hospitals to be built in Piura and Chimbote.