S&P boosts Argentina

Standard & Poor's said it raised its long-term local and foreign currency credit rating on the Republic of Argentina to B+ from B.

S&P said it also affirmed its B short-term ratings on The Republic of Argentina. The outlook on the long-term ratings is stable.

At the same time, S&P said it raised its foreign and local currency ratings on the city of Buenos Aires and the province of Mendoza to B+ from B.

The outlook on the city of Buenos Aires remains positive and the outlook on Mendoza is stable, the agency noted.

S&P added that the upgrade on Argentina reflects improvement in the country's external liquidity, combined with a falling debt burden.

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