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Buenos Aires (City of)
Standard & Poors, Nov 2010
Abstract
A small debt burden, at 20% of operating revenue. A large degree of fiscal autonomy from the central government. More wealth and higher income per capita than the national average. Medium-term economic uncertainties affecting Argentina's sovereign creditworthiness. Potential impacts on the city's finances derived from a still-evolving and difficult relationship with the central government. Limited fiscal and financial flexibility as an ambitious investment program progresses in the city. The 'B' global scale rating on the City of Buenos Aires reflects the high risk inherent to Argentina. A polarized political and economic environment, lack of predictability in government policies, and high inflation still constrain the ratings on the sovereign. The city's revenue flexibility, which is higher than that of other local...
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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