NEW YORK (Standard&Poor's) Oct. 2, 2006--Standard&Poor's Ratings Services said today it raised its long-term local and foreign currency credit rating on the Republic of Argentina to 'B+' from 'B'. Standard&Poor's also affirmed its 'B' short-term ratings on The Republic of Argentina. The outlook on the long-term ratings is stable. At the same time, Standard&Poor's raised its foreign and local currency ratings on the city of Buenos Aires and the province of Mendoza to 'B+' from 'B'. The outlook on Buenos Aires remains positive and the outlook on Mendoza is stable. "The upgrade on Argentina reflects improvement in the country's external liquidity, combined with a falling debt burden," explained Standard&Poor's credit
