Credit rating agency Moody’s upgraded Buenos Aires City’s debt rating to “AAA,” the only Argentine region included in the agency’s top category.
According to the report published on Tuesday, the upgrade was based on the city’ fiscal and financial performance, as well as improvements in its maturity profile.
City Finance and Public Credit Minister Gustavo Arengo said that the credit rating upgrade was the “result of having orderly public accounts and fiscal discipline.”
“This allows us to achieve a solid credit reputation, an essential condition for accessing low-cost financing, thereby increasing our investment capacity,” he added.
For the city, this allows them to access foreign financing at lower interest rates. However, it should be noted that its bonds are also tied to Argentina’s sovereign debt rating.
