S&P affirms Buenos Aires

Standard & Poor's said that it affirmed the Province of Buenos Aires B foreign- and local-currency issuer credit ratings, raAA- national-scale rating and 3 recovery rating on the province's debt.

The outlook is stable.

The ratings consider Buenos Aires' high fiscal deficits, support provided by Argentina and high inflation, DBRS said.

The ratings also growing pressure for salary increases and structural issues derived from the unfavorable redistribution of federal resources, the agency said.

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