Argie Province Gets Single B

Argie Province Gets Single B

Argentina Bonds Corporate & Sovereign Strategy

Following the government of Entre Rios’ approval to issue bonds, Moody's has assigned a B3 rating to the northern Argentine province, the agency says. The province approved last month a plan to raise up to ARP900m ($164m), or the equivalent in other currencies, at up to five years’ maturity. No specific plans have been announced. The province was also rated Baa2 on a national scale. Moody’s notes low and declining debt levels, as well as a track record of tight albeit stable operating surpluses.

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