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Buenos Aires (City of) Eur100 Million Notes Assigned 'BB' Rating
Standard & Poors, June 2000
Abstract
NEW YORK (Standard & Poor's CreditWire) June 14, 2000--Standard & Poor's today assigned its double-'B' foreign currency rating to the city of Buenos Aires' Eur100 million notes due 2003. The outlook is stable. The rating reflects the city's solid financial performance, despite a severe nationwide recession, improved financial policies, and a 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 limited revenue...
Companies mentioned in this report are: Buenos Aires (City of)
Action: New Rating
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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