City of BA Gets Chop

City of BA Gets Chop

Argentina

S&P has cut City of Buenos Aires to B minus (stable) from B following a change in its transfer and convertibility assessment on the sovereign. “The T&C assessment on Argentina is our view of the probability of the sovereign restricting access to foreign exchange needed by Argentina-based non sovereign issuers for debt service. This assessment is now similar to the rating level associated with the likelihood of the sovereign defaulting on its foreign-currency obligations,” says the agency. In con

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