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Buenos Aires (City of)
Standard & Poors, Oct 2007
Abstract
A declining debt burden, estimated at 18.1% of operating revenue for 2007; A high level of fiscal autonomy; and A relatively wealthy and high-income economy. Medium-term economic uncertainties regarding the creditworthiness of Argentina's sovereign government; Continuing fiscal challenges. Expenditure pressure might continue as tax revenue consolidates toward a more normal trend, and; Exposure to exchange-rate volatility, as about 88% of the city's debt is denominated in U.S. dollars. The positive outlook on the City of Buenos Aires' credit rating is supported by its declining debt burden during the last several years. Solid economic and fiscal performances after the 2001-2002 economic crisis helped to put the city's debt level into a more sustainable path, despite the slight fiscal deterioration seen in...
Companies mentioned in this report are: Buenos Aires (City of)
Action: Review
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: Full Analysis
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