Balearics keep A rating after 510 million euro debt cut

Mallorca and the rest of the Balearic Islands keep their A credit rating as regional debt stands 510 million euros below its level at the start of the legislative term. On 12 November, the Balearic Government’s Department of Economy, Finance and Innovation reports that US ratings agency Standard & Poor’s has kept the region’s outlook stable. It is the Balearics’ best financial rating since 2010.

Standard & Poor’s points to lower debt, strong economic results and the outlook for the coming year. At the end of 2025, the region’s debt stood at 17.7% of its gross domestic product.

The rating has climbed in stages. Standard & Poor’s raised it from BBB+ to A- in November 2023, then kept it at A- while changing the outlook to positive in May 2025. In May 2026, it raised the rating to A with a stable outlook. That rating now remains in place.

The department says the Balearics have also gained access to the Financial Facility, a funding scheme for regions that meet financial sustainability requirements and fiscal targets. It says this can reduce the region’s reliance on extraordinary state funding and allow a gradual return to financial markets on better terms.

Topics: Economy

Source: Europa Press / Mallorca.com