S&P rates Buenos Aires notes B+

S&P said it assigned its B+ issue-level rating to the province of Buenos Aires' (B+/stable) senior notes of up to ARS 22 billion.

The province will use the proceeds to improve its debt maturity profile, make debt amortization payments, and fund infrastructure and other public investment projects.

The foreign currency rating is the same as the B+ global scale long-term issuer credit rating on Argentina.

S&P said it believes that the province’s fiscal performance could gradually improve, if it continues focusing on reducing its operating deficits.

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