The positive implications of Argentina's declining government debt burden in terms of GDP continue to be offset by the country's high inflation rate and limited access to financing. As a result, we affirmed our 'B' unsolicited foreign and local currency ratings and raAA national scale rating on Argentina. The outlook is stable. On Sept. 12, 2011, Standard&Poor's Rating Services affirmed its 'B' unsolicited foreign and local currency sovereign ratings and its raAA national scale rating on the Republic of Argentina. At the same time, Standard&Poor's maintains its 'B' transfer and convertibility assessment (T&C) on Argentina. The outlook is stable. The ratings are constrained by the government's limited access to financing, the economic policy uncertainties that have
