S&P cuts Argentine provinces’ ratings; view negative

S&P said it cut the long-term foreign and local currency ratings for nine Argentine provinces and the city of Buenos Aires, citing the downgrade for the country’s sovereign ratings to B- from B.

The agency downgraded the provinces of Buenos Aires, Cordoba, Entre Rios, La Rioja, Mendoza, Neuquen, Rio Negro and Salta, and the city of Buenos Aires to B- from B.

S&P also downgraded the province of Jujuy to CCC+ from B-.

The outlook is negative, reflecting the outlook on the country.

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