S&P rates Entre Rios notes B-

S&P said it assigned its B- foreign and local currency issuer credit ratings on the province of Entre Rios. The outlook is stable.

S&P also assigned a B- issue-level rating on the province's senior unsecured notes for up to $250 million. The amortizing notes will be denominated in dollars, and the province will use the proceeds to fund infrastructure projects, improve its debt maturity profile and service debt and fund loans to its municipalities.

The B- ratings and b- stand-alone credit profile (SACP) reflect the province's individual credit profile and the institutional framework in which it operates, S&P said in a news release.

“Overall, we don't believe the new issuance will hurt the province's financial profile,” S&P said in a news release.

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