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Argentina Keeps A Tighter Rein On Its Provinces Since The 2001 Crisis, But They Face A Rough Road Ahead
Standard & Poors, March 2009
Abstract
Since the 2001-2002 financial crisis that gripped Argentina, the country's provinces have been subject to greater accountability to, and control by, the national government amid a remarkable recovery. By all measures, the fiscal position of the provinces seems less precarious than it was in the period running up to the country's 2001 crisis. However, with a worsening national economy and a global slowdown, the challenges for Argentina's provinces today are different, but some of the same fears have returned. After the provinces showed a consolidated deficit in both 2007 and 2008, concerns are growing over their fiscal health. Standard & Poor's Ratings Services believes that, in the current national and global downturn, the provinces' finances will weaken more rapidly than...
Companies mentioned in this report are: Argentina (Republic of) (Unsolicited Ratings),Buenos Aires (Province of),Buenos Aires (City of),Mendoza (Province of),Cordoba (Province of)
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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