NY -- Standard&Poor's CreditWire 1/21/97 -- Standard&Poor's today has assigned to Mercado de Valores de Buenos Aires S.A. (Merval) an initial local currency counterparty rating of double-`B'-plus and an initial foreign currency counterparty rating of double-`B'-minus. The ratings outlook is stable. Merval is the incorporated securities market responsible for trading operations and member broker conduct on the Buenos Aires Stock Exchange. The ratings are based on Merval's importance to the Argentine capital markets, which was recently strengthened by Merval's signing an agreement to purchase up to a 40% interest in Argenclear, the new national clearing house mandated by the Argentine government. The agreement further provides that Merval will continue to clear and settle all trades listed
