Fitch: Buenos Aires outlook negative

Fitch Ratings said it has affirmed its ratings on the City of Buenos Aires as follows: long-term and local currency issuer default rating at B-, negative outlook and short-term and local currency issuer default rating at B.

The agency said that the affirmation of Buenos Aires’ ratings considers its adequate fiscal and budgetary performance, generating sound operating margins over the last years despite the pressures on operating expenditures.

The city maintains high financial flexibility, adequate leverage and sustainability ratios, and it is Argentina's primary economic and financial center. Fitch noted.

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