S&P affirms Buenos Aires

Standard & Poor's said it affirmed the B+ global scale rating on Buenos Aires.

The outlook remains stable.

The B+ rating is supported by the city's declining debt burden the past five years, the agency said.

Factors also supporting the rating include a high-income economy and fiscal flexibility, S&P added.

The major fiscal risk is the growing pressure for salary increases as high inflation intensifies, the agency noted.

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