S&P gives Buenos Aires notes B-

Standard & Poor's said it assigned its B- global-scale long-term rating to the proposed $50 million notes to be issued by the City of Buenos Aires.

The 12.5% amortizing notes due 2014 pursuant to the City of Buenos Aires medium-term note program series 7 will be denominated in dollars, the agency added.

According to S&P, the B- ratings on the city of Buenos Aires are constrained by the high risk inherent to Argentina and negative local factors include high inflation, a low level of investments and the lack of predictability regarding the direction of economic policies in Argentina.

© 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.