NEW YORK (Standard&Poor's) March 23, 2006--Standard&Poor's Rating Services said today that it raised its long-term sovereign credit rating on the Republic of Argentina to 'B' from 'B-'. Standard&Poor's also raised its short-term sovereign credit rating on the republic to 'B' from 'C', and its national scale rating to 'raAA-' from 'raA'. The outlook on the long-term sovereign and national scale ratings remains stable. "The upgrade reflects Argentina's improved external and fiscal flexibility," said Standard&Poor's credit analyst Joydeep Mukherji. "Recent years of impressive economic growth and fiscal surpluses, combined with a reduction in the sovereign's debt burden in 2005 after debt rescheduling, have strengthened Argentina's financial profile. The threat of economic disruption caused
