Buenos Aires Receives B1 Rating from Moody's After 14 Years

The bonds of the Government of the City of Buenos Aires have achieved a B1 rating from Moody's, the best in 14 years. Moody's raised the baseline credit assessment from b2 to b1 and the senior unsecured debt ratings from B2 to B1, maintaining a stable outlook. The head of government, Jorge Macri, emphasized that this improvement is the result of order in the City’s accounts and a stable macroeconomy. The Minister of Finance, Gustavo Arengo, stated that Buenos Aires positions itself as the jurisdiction with the best rating. Additionally, Moody's upgraded the ratings of Córdoba, Mendoza, and Santa Fe, as well as Buenos Aires and Chaco, while maintaining stable outlooks. The ratings of Entre Ríos and Córdoba were also raised to B3, with positive outlooks. The improvement in ratings is related to the increase in the sovereign issuer rating of Argentina and the change in outlook for sovereign ratings.

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