Standard and Poor’s subió la nota de la Ciudad de Buenos Aires a “AAA”, la máxima calificación en la escala nacional

Standard and Poor's has upgraded the credit rating of Buenos Aires City to "AAA," the highest possible rating within its national scale. The agency raised both the local currency and foreign currency issuer ratings from "raAA+" to "raAAA," with a stable outlook. This marks a significant shift in the financial standing of the city, placing it at the top tier of the national credit rating framework. The upgrade follows a period of sustained fiscal surpluses, prudent financial management, and increased liquidity reserves. According to the report, these factors have enabled Buenos Aires to maintain a strong financial position even amid economic volatility. The city's ability to consistently generate surplus revenues while reducing debt levels without compromising infrastructure investment was highlighted as key drivers behind the decision. Government officials in Buenos Aires welcomed the move, viewing it as a sign of confidence in the district's financial stability. Mayor Jorge Macri expressed pride in the achievement, stating that the city has achieved the highest credit rating in the country. He linked the improvement to fiscal discipline and the supportive macroeconomic environment created by the national government. Macri emphasized that the outcome reflects the effectiveness of the city's fiscal policies and the positive impact of coordinated economic strategies at the national level. Minister of Finance Gustavo Arengo noted that the improved rating could lead to tangible benefits, particularly in terms of financing costs. He explained that maintaining a solid financial reputation allows the city better access to capital markets, which can translate into more favorable conditions for future bond issuances. These improvements, he argued, directly support greater public investment in infrastructure projects that benefit residents. One of the key aspects highlighted by Standard & Poor's was the city's resilience in the face of reduced federal transfers. Despite fluctuations in funding from the national government, Buenos Aires managed to navigate periods of financial stress without significantly impacting its balance sheet. The agency praised the city's ability to adapt to changing resource flows and maintain fiscal stability during times of uncertainty. Another factor contributing to the upgrade was the city's low dependence on national transfers. Buenos Aires has developed a robust capacity to generate its own revenue, allowing it to maintain a financially independent stance. This self-reliance, according to the report, provides the city with a buffer against potential challenges faced by other provinces, ensuring continued financial strength even under adverse conditions. The stable outlook attached to the "AAA" rating suggests that, under normal market conditions, Buenos Aires is expected to sustain its current financial profile. The agency noted that this assessment is based on the city's consistent performance and its ability to manage risks effectively. In practical terms, the improved credit rating could enhance the city's access to capital markets and potentially lower the cost of future borrowing, subject to broader economic trends and market dynamics.