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Buenos Aires (City of) Upgraded to 'BB' From 'BB-'
Standard & Poors, March 2000
Abstract
NEW YORK (Standard & Poor's CreditWire) March 14, 2000--Standard & Poor's today upgraded its foreign and local currency credit rating on the City of Buenos Aires to double-'B' from double-'B'-minus. The outlook is stable. The rating upgrade reflects the city's solid financial performance despite a severe nationwide recession, improved financial policies, and somewhat greater certainty about the city's service responsibilities. The rating also reflects: -- The city's position as the national capital and leading commercial center of Argentina; -- The city's good financial performance, with improved administrative systems and controls, and conservative budget estimates; -- A basic agreement with the federal government netting out their respective debts; and -- A manageable debt burden. Somewhat offsetting these strengths are the city's...
Companies mentioned in this report are: Buenos Aires (City of)
Action: Upgraded
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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