...July 20, 2026 BUENOS AIRES (S&P Global Ratings) July 20, 2026--S&P Global Ratings today assigned a 'B-' issue rating to the Province of Neuquen's proposed US$500 million notes (TIPDeN). The 'B-' rating on the issuance is the same as the foreign-currency issuer credit rating (B- /Stable/--) on the Province of Neuquen. The 'B-' rating on the Province of Neuquen reflects our expectation that balanced fiscal performance, as well as access to financing, will facilitate timely payment of its relatively low debt service in the next 12 months. We anticipate that revenue gains from increased hydrocarbon production will be partly counterbalanced by spending pressures. If hydrocarbon momentum continues and if further infrastructure projects in the pipeline financed by the private sector materialize, there could be further revenue upside for Neuquen, supporting its financial profile. In our view, the province's low liquidity continues to constrain its creditworthiness, although this could be mitigated...
