Moody's gives Buenos Aires notes B3/A3.ar

Moody's Latin America said it assigned a B3 global local currency rating and an A3.ar Argentina national scale rating to class 6 notes for up to $150 million to be issued by the City of Buenos Aires under their Local Financing Program.

The assigned ratings are in line with the city's local currency debt ratings. The class 6 notes to be issued under the program will be subscribed and payable in Argentine pesos at the specified exchange rate and sold in the local capital market. As a result, the dollar will be a currency of reference and not a means of payment. For that reason, the transaction is considered to be denominated in local currency, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.