City of Buenos Aires receives AAA credit rating upgrade

Standard & Poor’s has upgraded the credit rating of the City of Buenos Aires (CABA) to AAA for both local currency and foreign currency issuers, with a stable outlook. This marks the highest possible credit rating within Argentina.

The rating agency attributed the upgrade to consistent fiscal surpluses, prudent financial management, and the ability to build liquidity reserves, which have allowed the city to reduce debt levels while improving infrastructure. The report also noted the city’s resilience in navigating Argentina’s volatile macroeconomic conditions and managing reductions in both automatic and discretionary transfers.

Buenos Aires Chief of Government Jorge Macri stated that the upgrade recognizes the city’s financial order and commitment to its obligations. Minister of Finance and Treasury Gustavo Arengo added that a solid market reputation will provide better access to financing, facilitating further investment in local infrastructure.