Fitch affirms Buenos Aires program

Fitch Ratings said it has affirmed the B rating on City of Buenos Aires' euro medium-term note program.

The outlook remains stable.

Additionally, Fitch said it affirms the city's long-term foreign and local currency ratings at B after the downgrade of the Republic of Argentina's long-term local currency issuer default rating to B- from B.

According to the agency, the ratings recognize strengths in the city's credit profile, including its large and diversified economy, an adequate liquidity position, its sustainable debt levels and manageable debt-service repayment schedule.

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