Moody's assigns City of Buenos Aires notes B2

Moody's Investors Service said it assigned a B2 rating to the series 10 notes issued by the City of Buenos Aires for up to $500 million.

The city's foreign currency rating of B2 is constrained by Argentina's foreign currency country ceiling, currently B2.

Moody's said the rating assigned to the series 10 notes, equivalent to the Argentine foreign currency country ceiling for bonds, reflects the city's broad economy, which generates incomes far higher than the national average, and relatively low debt levels that have been reduced steadily since 2003.

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