In our opinion, Neuquen's economy is not as prosperous as before, uncertainties about Argentina's changes in energy policy in 2019, over the Alberto Fernandez administration energy policy, and persistent delays infrastructure development have stalled energy investments in the province. Managing cyclical revenue, such as the recent decline in hydrocarbon royalties, continues to be a key challenge for Neuquén, while its finances have weakened. We're affirming our long-term 'B-' global scale foreign and local currency issuer credit ratings on the province. The outlook is negative, reflecting the very complex economic and financial market dynamics in Argentina. On Feb. 13, 2020, S&P Global Ratings affirmed its long-term 'B-' global scale foreign and local currency ratings on Neuquén. We also affirmed our 'B-'
