S&P: Buenos Aires unaffected

Standard & Poor's said the issuer credit rating and outlook (B+/positive) nor its national scale rating (raAA/positive) on the city of Buenos Aires will be affected by the potential issuance of up to 1.6 billion Argentine peso in government bonds.

The city is planning to raise the amount locally and internationally in one or more series with a minimum maturity of seven years.

Proceeds will be used for capital expenditures.

According to the agency, Buenos Aires' direct debt has been slashed over the past five years, creating some margin for additional debt.

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