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Buenos Aires (City of)
Standard & Poors, Oct 2008
Abstract
A small and declining debt burden, and low debt service; Fiscal autonomy; and More wealth and higher income per capita than the national average. Medium-term economic uncertainties affecting Argentina's sovereign creditworthiness; and Continuing fiscal pressures on expenditures as high inflation pushes claims for salary increases. The 'B+' long-term issuer credit rating and stable outlook on the City of Buenos Aires are supported by the city's low debt, which has been declining over the past five years. Solid economic and fiscal performance after the 2001-to-2002 crisis has helped to make the city's debt more manageable, even after slight fiscal deterioration in 2006 and 2007. The city's major fiscal risk will continue to be the growing pressure for salary increases as already-high...
Companies mentioned in this report are: Buenos Aires (City of),Buenos Aires (Province 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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