S&P rates Mendoza notes B-

S&P said it assigned a B- rating on the Province of Mendoza's senior unsecured notes for up to $500 million.

The amortizing notes will be denominated in U.S. dollars, S&P said.

The proceeds will be used to make debt-service payments and to fund the province's 2016 operating deficit, S&P said.

This additional debt is not considered harmful to the province's financial profile, the agency said.

The foreign-currency rating on the province is the same as the B- global scale long-term issuer credit rating and the transfer and convertibility assessment on Argentina, S&P added.

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