Santa Fe Province's Moody's Upgrade Puts It Above Argentina's Sovereign Rating

Moody’s Investors Service raised the credit rating of Argentina’s Santa Fe province from B3 to B2, positioning the jurisdiction among the four Argentine sub‑national entities with the strongest credit profiles and ahead of the national sovereign rating, which remains at B3.

The agency cited a solid revenue base, consistent economic fundamentals, prudent fiscal policy, low indebtedness, strong liquidity and a recent international bond issuance as key factors supporting the upgrade. Provincial officials highlighted the rating improvement as validation of responsible financial management. Economy Minister Pablo Olivares said, “Santa Fe continues demonstrating that, on the basis of its solvency, responsibility and financial sustainability, it maintains a performance recognized by the leading international rating agencies.” Economic Policy Secretary Pablo Gorbán added that the upgrade reflects transparency and the fulfillment of fiscal commitments. Moody’s projects that Santa Fe will sustain its current credit profile over the medium term, bolstered by its sound fundamentals and disciplined fiscal administration.